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Needham analyst Stephen Unger assigned a Buy rating to Thermo Fisher (TMO) today and set a price target of $477.00. The company’s shares closed last Wednesday at $433.88, close to its 52-week high of $441.96.
According to TipRanks.com, Unger is a 5-star analyst with an average return of 27.6% and a 74.7% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, PerkinElmer, and NeoGenomics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Thermo Fisher with a $464.62 average price target, implying a 5.9% upside from current levels. In a report issued on September 14, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $485.00 price target.
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Based on Thermo Fisher’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.92 billion and net profit of $1.16 billion. In comparison, last year the company earned revenue of $6.32 billion and had a net profit of $1.12 billion.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMO in relation to earlier this year. Last month, Peter Hornstra, the VP & CAO of TMO sold 3,337 shares for a total of $1,397,619.
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Thermo Fisher Scientific, Inc. engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. The Life Sciences Solutions segment comprises of portfolio of reagents, instruments, and consumables used in biological and medical research, discovery and production of new drugs, and vaccines as well as diagnosis of disease. The Analytical Instruments segment offers instruments, consumables, software, and services that are used for a range of applications in the laboratory, on the production line, and in the field. The Specialty Diagnostics segment gives diagnostic test kits, reagents, culture media, instruments, and associated products used to increase the speed and accuracy of diagnoses. The Laboratory Products and Services segment involves in providing everything needed for the laboratory, including a combination of self-manufactured and sourced products for customers in research, academic, government, industrial, and healthcare settings. The company was founded on October 11, 1960 and is headquartered in Waltham, MA.
