Thermo Fisher Scientific (NYSE:TMO) Announces Quarterly Earnings Results

Thermo Fisher Scientific (NYSE:TMO) posted its earnings results on Wednesday. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41, reports. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Thermo Fisher Scientific updated its FY 2024 guidance to 21.140-22.020 EPS and its FY24 guidance to $21.14-22.02 EPS.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $573.60 on Friday. The stock has a market cap of $218.95 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $573.60 and a 200-day simple moving average of $529.90. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TMO. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group increased their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI upped their target price 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 thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.76.

Insiders Place Their Bets

In other 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 sale, the director now 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 is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $89,703.08. Following the sale, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 in the last ninety days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Large investors have recently made changes to their positions in the business. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at $29,000. True Wealth Design LLC lifted its position in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares in the last quarter. LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at about $31,000. Pineridge Advisors LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $39,000. Finally, Cape Investment Advisory Inc. grew its stake in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.