Medical equipment giant Thermo Fisher Scientific is working on the right side of a cup-with-handle base it began forming in January. A breakout could give its stock a big boost. On Tuesday, the Relative Strength (RS) Rating for Thermo Fisher stock climbed from 63 to 73.
The 73 RS Rating means Thermo Fisher stock outperformed 73% of all stocks over the past year for price performance. Top stocks, the best stocks to buy and watch, tend to have an RS Rating north of 80 as they launch their largest runs. See if Thermo Fisher Scientific can continue to show renewed price strength and clear that threshold.
Thermo Fisher Overall Rating Puts It In Top 20%
Waltham, Mass.-based Thermo Fisher Scientific stock also has an 81 Composite Rating and a 76 Earnings Per Share Rating, both out of a best-possible 99. Its B Accumulation/Distribution Rating, on an A+ to E scale, shows that institutions like mutual funds and ETFs are mostly buying more shares than selling.
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Thermo Fisher Scientific is forming a cup-with-handle base with a 581.88 entry. On Tuesday, the stock rose 0.6% to about 578. See if Thermo Fisher stock can break out in volume at least 40% above average.
Thermo Fisher Stock Rising; Earnings Due
Thermo Fisher Scientific reported mixed results this past year. Sales grew every quarter on a year-over-year basis despite rising inflation and other macroeconomic headwinds. Last quarter, sales grew 7% to $11.4 billion. That followed growth of 19%, 18% and 14%. Earnings last quarter slid 17% to a still strong $5.40 per share. The company says on its website it will report its first quarter earnings numbers on the morning of April 26.
Thermo Fisher stock holds the No. 3 rank among its peers in the Medical-Research Equipment/Services industry group. Medical measurement and chemical analysis gear maker Agilent Technologies and clinical development services provider Medpace are also among the group's highest-rated stocks.
The exclusive Relative Strength Rating from Investor's Business Daily identifies price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
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