Needham Believes Thermo Fisher (NYSE: TMO) Won’t Stop Here

By Ryan Adsit

In a report released today, Stephen Unger from Needham maintained a Buy rating on Thermo Fisher (TMOResearch Report), with a price target of $315. The company’s shares opened today at $271.02, close to its 52-week high of $282.98.

According to TipRanks.com, Unger is a 3-star analyst with an average return of 4.9% and a 52.6% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, Genomic Health, and Danaher Corp.

Currently, the analyst consensus on Thermo Fisher is a Strong Buy with an average price target of $306.25, representing a 13.0% upside. In a report released today, UBS also maintained a Buy rating on the stock with a $320 price target.

See today’s analyst top recommended stocks >>

Based on Thermo Fisher’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.13 billion and net profit of $815 million. In comparison, last year the company earned revenue of $5.85 billion and had a net profit of $579 million.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.