Tag Archives: TMO

Thermo Fisher Scientific,$TMO

Analysts’ Recommendations for Abbott Laboratories in May 2017

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Thermo Fisher Scientific: Too Hot For Too Long

In 1Q17, Abbott Laboratories (ABT) managed to report adjusted earnings per share (or EPS) of nearly $0.48, ~$0.05 higher than analysts’ estimated EPS.


Phononic CEO shares the key to his company's market penet…

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Thermo Fisher Scientific: Too Hot For Too Long

Jim Cramer spoke with Phononic CEO Tony Atti to see how his distruptive semiconductor company plays it cool.


Thermo Fisher Initiated with ‘Overweight’ Rating at Cantor Fitzgerald

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Thermo Fisher Scientific: Too Hot For Too Long

Shares of Thermo Fisher Scientific   (TMO)  were higher during mid-morning trading on Friday following after Cantor Fitzgerald initiated coverage of the stock with an “Overweight” rating and a $194 price target.

Management at the Waltham, MA-based biotechnology product development firm is “well positioned” to take advantage of positive secular trends and “attractive” end markets, Cantor analyst Bryan Brokmeier noted.

Thermo Fisher’s strong reputation with consumers in a “highly-fragmented” industry will create organic growth opportunities at the “likely” expense of weaker competition, Brokmeier added.

Jim Cramer and Real Money columnists discuss the latest from President Donald Trump and the GOP efforts to repeal and replace the Affordable Care Act. See which stocks they are discussing and get his insights or analysis with a free trial subscription to Real Money.


Royal DSM N.V. — Moody’s changes Royal DSM’s outlook to stable from negative; affirms A3/P-2 ratings

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Thermo Fisher Scientific: Too Hot For Too Long

London, 18 May 2017 — Moody’s Investors Service, (“Moody’s”) today affirmed Royal DSM N.V.’s (”DSM”) A3 issuer and senior unsecured bond ratings, (P)A3/(P)Prime-2 senior unsecured MTN programme ratings and Prime-2 (P-2) commercial paper rating. Concurrently, Moody’s changed the outlook on all ratings to stable from negative.

RATINGS RATIONALE

The affirmation of the ratings and stabilisation of the outlook reflect Moody’s view that the positioning of DSM’s rating within the A3 category will be significantly strengthened following the sale of its 34% stake in Patheon N.V. that is expected to be completed by year-end 2017.

On 15 May 2017, Thermo Fisher Scientific Inc. (Baa2 stable) announced that it has agreed to acquire Patheon N.V. for $35.00 per ordinary share in cash. Concurrently, DSM entered into a tender and support agreement with Thermo Fisher pursuant to which it will tender its holding of approximately 48.7 million ordinary shares in the transaction. DSM will raise cash proceeds of approximately $1.7 billion from the sale, which will enable it to sharply reduce net debt and significantly enhance its financial flexibility.

In addition, Moody’s notes that DSM reported a marked upturn in underlying operating profitability and cash flow generation in 2016, including a 25% year-on-year increase EBITDA (as adjusted by Moody’s) to €1.18 billion. Looking ahead, continuing sales volume growth across the portfolio driven by innovation and the ongoing shift towards higher added-value materials, as well as incremental benefits from the performance improvement initiatives expected to generate total annual savings of €250-300 million by 2018, should help DSM sustain the recent improvement in its financial results.

Moody’s views DSM management’s 2017 public guidance of high-single-digit percentage growth in reported EBITDA (before restructuring expenses and one-off items) as achievable in the context of the strong first quarter performance recently posted by the group. Based on capital expenditure of up to €550 million, we estimate that DSM’s net debt (as adjusted by Moody’s) will decline to around €1.3 billion at year-end 2017 v. €2.7 billion in 2016. Assuming a stable stock dividend take-up rate of around 35-40%, this should translate in some significant strengthening in the group’s financial metrics with retained cash flow (RCF) to net debt above 60% and net debt to EBITDA around 1.0x. This would give DSM some substantial flexibility to pursue bolt-on acquisitions while keeping its credit metrics well positioned within the A3 rating category.

The stable outlook reflects Moody’s confidence that the sale of the Patheon stake combined with a sustained improvement in operating performance will give DSM the financial flexibility to pursue its growth strategy in the context of its conservative financial policy and cash allocation priorities, while maintaining financial metrics in line with the A3 rating.

WHAT COULD MOVE THE RATING UP OR DOWN

Moody’s could upgrade the rating should a sustained improvement in DSM’s earnings and cash flow profile result in some permanent strengthening in financial metrics, including RCF to net debt in the high 30s to low 40s in percentage terms and total debt to EBITDA below 2.0x.

Conversely, negative rating pressure could be exerted on the ratings should DSM fail to sustain the recent improvement in operating profitability and maintain financial metrics commensurate with the A3 rating, including RCF to net debt in the low 30s in percentage terms and total debt to EBITDA below 2.5x (assuming normalised cash balances of around €600-700 million).

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Global Chemical Industry Rating Methodology published in December 2013. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

Headquartered in Heerlen, The Netherlands, Royal DSM N.V. is a leading life sciences and material sciences group encompassing a global Nutrition business and specialty Materials portfolio, In 2016, it reported sales of €7.9 billion and EBITDA ( before restructuring and one-off items) of €1.3 billion.

REGULATORY DISCLOSURES

For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider’s credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.

For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.

Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.

Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody’s legal entity that has issued the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.

Francois Lauras
VP – Senior Credit Officer
Corporate Finance Group
Moody’s Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

Anke N Richter, CFA
Associate Managing Director
Corporate Finance Group
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

Releasing Office:
Moody’s Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

No Related Data.

© 2017 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

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Thermo Fisher Scientific Declares Quarterly Dividend

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Thermo Fisher Scientific: Too Hot For Too Long

WALTHAM, Mass., May 18, 2017 /PRNewswire/ — Thermo Fisher Scientific Inc. (TMO), the world leader in serving science, today announced that its board of directors declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on July 17, 2017, to shareholders of record as of June 15, 2017.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. (TMO) is the world leader in serving science, with revenues of $18 billion and more than 55,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.

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Media Contact Information:                          

Investor Contact Information:

Ron O’Brien                                                

Ken Apicerno

Phone: 781-622-1242                                   

Phone: 781-622-1294

E-mail: ron.obrien@thermofisher.com             

E-mail: ken.apicerno@thermofisher.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/thermo-fisher-scientific-declares-quarterly-dividend-300459824.html


Patheon Holdings I B.V. — Moody’s places ratings of Patheon Holdings I B.V. on review for upgrade

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Thermo Fisher Scientific: Too Hot For Too Long

Rating Action: Moody’s places ratings of Patheon Holdings I B.V. on review for upgrade. Global Credit Research- 17 May 2017. New York, May 17, 2017– Moody’s Investors Service placed the ratings of Patheon …


Thermo Fisher Scientific (Finance I) B.V. — Moody’s affirms Thermo Fisher Scientific’s Baa2 senior unsecured rating following Patheon acquisition announcement

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Thermo Fisher Scientific: Too Hot For Too Long

Rating Action: Moody’s affirms Thermo Fisher Scientific’s Baa2 senior unsecured rating following Patheon acquisition announcement. Global Credit Research- 16 May 2017. New York, May 16, 2017– Moody’s …


Thermo Fisher (TMO) to Buy Patheon, Expand in Biopharma

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Thermo Fisher Scientific: Too Hot For Too Long

Thermo Fisher Scientific Inc. (TMO), a leading scientific instrument maker, recently agreed to acquire Netherlands-based Patheon N.V.


Blog Coverage: Thermo Fisher to Acquire Patheon; Expects to Realize Multiple Synergies from the Transaction

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Thermo Fisher Scientific: Too Hot For Too Long

LONDON, UK / ACCESSWIRE / May 16, 2017 / Active Wall St. blog coverage looks at the headline from Thermo Fisher Scientific Inc. (NYSE: TMO ) and Patheon N.V. (NYSE: PTHN ). Thermo Fisher Scientific announced …