Thermo Fisher Scientific Inc. (TMO) looking to reclaim success with recent performance

Thermo Fisher Scientific Inc. (NYSE: TMO) stock jumped 0.93% on Thursday to $515.64 against a previous-day closing price of $510.90. With 1.6 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.5 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $518.22 whereas the lowest price it dropped to was $506.54. The 52-week range on TMO shows that it touched its highest point at $609.85 and its lowest point at $475.77 during that stretch. It currently has a 1-year price target of $625.61. With its current market cap of 204.15 billion, TMO has annualized dividend of $1.40 while the current yield stands at 0.27%. Beta for the stock currently stands at 0.78.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TMO was down-trending over the past week, with a drop of -3.01%, but this was down by -3.52% over a month. Three-month performance dropped to -0.86% while six-month performance fell -4.99%. The stock lost -7.89% in the past year, while it has lost -6.36% so far this year. A look at the trailing 12-month EPS for TMO yields 14.63 with Next year EPS estimates of 24.63. For the next quarter, that number is 5.66. This implies an EPS growth rate of -9.30% for this year and 10.06% for next year. EPS is expected to grow by 7.08% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.60%.

Float and Shares Shorts:

At present, 386.00 million TMO shares are outstanding with a float of 385.23 million shares on hand for trading. On Aug 14, 2023, short shares totaled 2.56 million, which was 0.66% higher than short shares on Jul 13, 2023. In addition to Mr. Marc N. Casper as the firm’s Chairman, Pres & CEO, Mr. Stephen Williamson serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 91.80% of TMO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.70% of TMO, in contrast to 41.14% held by mutual funds. Shares owned by individuals account for 0.59%. As the largest shareholder in TMO with 8.03% of the stake, The Vanguard Group, Inc. holds 30,984,754 shares worth 30,984,754. A second-largest stockholder of TMO, BlackRock Fund Advisors, holds 18,408,301 shares, controlling over 4.77% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in TMO, holding 16,116,956 shares or 4.18% stake. With a 3.11% stake in TMO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 12,012,162 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.40% of TMO stock, is the second-largest Mutual Fund holder. It holds 9,237,933 shares valued at 5.07 billion. Government Pension Fund – Global holds 1.45% of the stake in TMO, owning 5,576,146 shares worth 3.06 billion.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, TMO reported revenue of $10.97B and operating income of $2.02B. The EBITDA in the recently reported quarter was $2.92B and diluted EPS was $4.22.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TMO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TMO analysts setting a high price target of $693.00 and a low target of $520.00, the average target price over the next 12 months is $626.14. Based on these targets, TMO could surge 34.4% to reach the target high and rise by 0.85% to reach the target low. Reaching the average price target will result in a growth of 21.43% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded TMO stock several times over the past three months with 8 Buys and 33 Sells. In these transactions, 70,000 shares were bought while 70,000 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 265 over the past year. The total number of shares bought during that period was 235,687 while 267,423 shares were sold.

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