Market Update (NYSE:TMO): Affymetrix (AFFX) Stock Soars on $1.3 Billion Sale to Thermo Fisher Scientific

[at TheStreet] – Affymetrix (AFFX) stock is surging on heavy trading volume on Monday after the company announced it was being acquired by Thermo Fisher Scientific for about $1.3 billion. Read more on this. Thermo Fisher Scientific, Inc. (TMO) , with a current market cap of $54.02B, opened this morning at $134.34. Looking at the equity, the company’s one day range is $134.34 to $137.29 with a one year range of $117.10 to $143.65. Priced at 18.18x this year’s forecasted earnings, TMO shares are relatively expensive compared to the industry’s 4.39x forward p/e ratio. And for income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 0.42%. Consensus earnings for the current quarter by the 20 sell-side analysts covering the stock is an estimate of $2.11 per share, which would be $0.12 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $7.38 is a $0.42 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.55 Billion. If reported, that would be a 1.34% increase over the year-ago quarter. More recently, Deutsche Bank Initiated TMO at Buy (Jan 7, 2016). Previously, Argus Initiated TMO at to Buy. The average price target for TMO shares by the analysts covering it is $156.64, which is 16.60% above where the stock opened. See more in (NYSE:TMO) Similar Articles: Company Update: Thermo Fisher Scientific Inc (NYSE:TMO) – Thermo Fisher adds Affymetrix to biotech toolkit for $1.3B Market Update: Thermo Fisher Scientific Inc (NYSE:TMO) – Thermo Fisher Scientific to Hold Earnings Conference Call on Thursday, January 28, 2016 Market Update: Thermo Fisher Scientific Inc (NYSE:TMO) – Thermo Fisher Scientific Authorizes $1 Billion of Share Repurchases and Declares Quarterly Dividend