Thermo Fisher Scientific (NYSE:TMO) Updates FY 2024 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 21.140-22.020 for the period, compared to the consensus estimate of 21.530. The company issued revenue guidance of $42.3 billion-$43.3 billion, compared to the consensus revenue estimate of $42.8 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.14-22.02 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Raymond James lifted their target price on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Citigroup assumed coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They set a neutral rating and a $620.00 price target on the stock. HSBC boosted their price target on Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Evercore ISI boosted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $604.69.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded up $2.23 during trading hours on Wednesday, reaching $576.82. The company had a trading volume of 1,419,087 shares, compared to its average volume of 1,559,293. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The firm has a market cap of $220.18 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The business’s 50 day moving average price is $572.03 and its 200-day moving average price is $528.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 1.39.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping the consensus estimate of $5.64 by $0.03. The business had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.40 EPS. Research analysts forecast that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

Insider Buying and Selling

In related news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock worth $28,513,384. 0.32% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.