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published in Blogs
Aug 19, 2019

Solid fundamentals helping propel Thermo Fisher Scientific higher

Medical equipment provider Thermo Fisher Scientific (NYSE: TMO) has been trending higher for over two and a half years. Sure the stock pulled back in the fourth quarter of 2018, but even then it held up better than most stocks. One of the biggest reasons behind the rally has been good, consistent fundamentals.

Over the last three years the company has been able to grow earnings at a rate of 15% per year while sales have grown at a rate of 14% per year. In the most recent quarterly report, earnings increased by 11% while sales increased by 4%. Analysts expect the company to see earnings increase by 10% for 2019 as a whole while sales are expected to increase by 4.4%.

The company’s management efficiency measurements are above average as well with a return on equity of 17% and a profit margin of 21%.

The Tickeron Fundamental Analysis Overview shows a profit vs. risk rating of 9 for Thermo Fisher, indicating low risk on high returns. The average profit vs. risk rating for the industry is 75, placing this stock better than average.

The Tickeron Valuation Rating of 11 indicates that the company is seriously undervalued in the industry. A rating of 1 points to the most undervalued stocks, while a rating of 100 points to the most overvalued stocks. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization.

The daily chart shows that the stock has been trending higher since the end of December and there is a trend line connecting the lows from the last five months. The slope of the trend isn’t that high, but that seems to go along with the consistency of the fundamentals. The stock hasn’t rocketed higher and then fallen back, it has been on a consistent climb higher.

We see that the stock just recently hit the trend line again and that is the second time it has done so in August. The overbought/oversold indicators dropped in to oversold territory early in August and then reversed, but pulled back down again this past week. The daily stochastic readings made a bullish crossover on August 16 and that could be a good sign for the stock.

The stock also broke below its lower Bollinger band in early August and according to the Tickeron Technical Analysis Overview, in 22 of 31 cases where TMO's price broke its lower Bollinger Band, its price rose further in the following month. That puts the odds of a rally at 71% based on the past statistics.

Taking a look at the weekly chart we see that Thermo Fisher closed below its 52-week moving average for one week back in December and that is the only time the stock has done that in the last two and a half years.

The weekly stochastic readings have recently dipped below the 50 level for the first time since December and for only the seventh time in the last two and a half years. Almost all of the previous instances have marked good buying points for investors.

The sentiment toward Thermo Fisher is relatively bullish, but it seems to be warranted based on how well the company and stock have performed in recent years. There are 17 analysts following the stock at this time and 14 have it rated as a “buy”. There are also two “hold” ratings and one “sell” rating. This puts the overall buy percentage at 82.4% and that is above average.

The short interest ratio is at 1.9 currently and that is below average. This means that both analysts and short sellers are slightly more bullish toward Thermo Fisher than the average stock, but with the fundamental and technical picture, the bullish sentiment seems to be appropriate.

Related Ticker: TMO

TMO in -2.45% downward trend, falling for three consecutive days on March 26, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where TMO declined for three days, in of 262 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for TMO moved out of overbought territory on March 14, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 45 similar instances where the indicator moved out of overbought territory. In of the 45 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on March 18, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on TMO as a result. In of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for TMO turned negative on March 15, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .

Bullish Trend Analysis

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 cases where TMO's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where TMO advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 376 cases where TMO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TMO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.713) is normal, around the industry mean (25.596). P/E Ratio (37.375) is within average values for comparable stocks, (79.752). Projected Growth (PEG Ratio) (2.868) is also within normal values, averaging (5.753). Dividend Yield (0.002) settles around the average of (0.019) among similar stocks. P/S Ratio (5.227) is also within normal values, averaging (43.236).

Notable companies

The most notable companies in this group are Abbott Laboratories (NYSE:ABT), Intuitive Surgical (NASDAQ:ISRG), Medtronic plc (NYSE:MDT), Boston Scientific Corp (NYSE:BSX), Edwards Lifesciences Corp (NYSE:EW), IQVIA Holdings (NYSE:IQV), Align Technology (NASDAQ:ALGN), Illumina (NASDAQ:ILMN), Exact Sciences Corp (NASDAQ:EXAS), Guardant Health (NASDAQ:GH).

Industry description

Medical specialties are companies that make equipment used by the health care industry. Equipment manufactured and distributed by these companies include dialysis machines, blood analysis equipment, surgical equipment, dental instruments, and diagnostic tools, among other items. Large companies typically aim to produce and distribute high-quality products across a broad market spectrum. Smaller firms are more likely to specialize in a particular market segment. Due to the industry’s close association with medical treatments, they typically have low sensitivity to macroeconomic fluctuations. Within this industry, Abbott Laboratories, Medtronic Plc and Thermo Fisher Scientific Inc. are some of the companies with multi-billion market capitalizations in the U.S. stock markets.

Market Cap

The average market capitalization across the Medical Specialties Industry is 7.24B. The market cap for tickers in the group ranges from 27 to 3.82T. MKYSF holds the highest valuation in this group at 3.82T. The lowest valued company is FOGCF at 27.

High and low price notable news

The average weekly price growth across all stocks in the Medical Specialties Industry was 1%. For the same Industry, the average monthly price growth was -2%, and the average quarterly price growth was 6%. NXL experienced the highest price growth at 280%, while SEQL experienced the biggest fall at -56%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -24%. For the same stocks of the Industry, the average monthly volume growth was -25% and the average quarterly volume growth was -10%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 72
Price Growth Rating: 55
SMR Rating: 84
Profit Risk Rating: 85
Seasonality Score: -7 (-100 ... +100)
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a developer of analytical and environment monitoring instruments

Industry MedicalSpecialties

Profile
Fundamentals
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Industry
Medical Specialties
Address
168 Third Avenue
Phone
+1 781 622-1000
Employees
122000
Web
https://www.thermofisher.com
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