Needham analyst Stephen Unger maintained a Buy rating on Thermo Fisher on Friday, setting a price target of $468, which is approximately 11.50% above the present share price of $419.73.
Unger expects Thermo Fisher to post earnings per share (EPS) of $2.92 for the third quarter of 2020.
The current consensus among 15 TipRanks analysts is for a Strong Buy rating of shares in Thermo Fisher, with an average price target of $457.27.
The analysts price targets range from a high of $475 to a low of $425.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $6.92 billion and a net profit of $1.4 billion. The company's market cap is $165.48 billion.
According to TipRanks.com, Needham analyst Stephen Unger is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 29.2% and a 73.68% success rate.
Thermo Fisher Scientific (NYSE:TMO), 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 (NYSE:LH) 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.