SVB Leerink Brokers Lift Earnings Estimates for Thermo Fisher Scientific Inc. (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Equities research analysts at SVB Leerink raised their FY2021 earnings per share (EPS) estimates for Thermo Fisher Scientific in a report issued on Monday, September 20th. SVB Leerink analyst P. Souda now forecasts that the medical research company will post earnings per share of $22.18 for the year, up from their previous forecast of $22.08. SVB Leerink currently has a “Outperform” rating and a $675.00 target price on the stock. SVB Leerink also issued estimates for Thermo Fisher Scientific’s Q1 2022 earnings at $4.86 EPS and Q2 2022 earnings at $4.99 EPS.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.51 by $0.09. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $8.75 billion. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%.

A number of other research firms have also issued reports on TMO. Argus upped their target price on Thermo Fisher Scientific from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Zacks Investment Research lowered Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price target on the stock. in a research note on Monday, July 12th. UBS Group increased their price target on Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group cut their target price on Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Jefferies Financial Group initiated coverage on Thermo Fisher Scientific in a research report on Monday. They issued a “hold” rating and a $540.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $580.43.

TMO opened at $597.04 on Tuesday. Thermo Fisher Scientific has a 1-year low of $412.80 and a 1-year high of $609.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.78 and a quick ratio of 2.11. The stock’s 50 day simple moving average is $548.41 and its 200 day simple moving average is $498.63. The stock has a market cap of $234.89 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.33 and a beta of 0.74.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.04 dividend on an annualized basis and a yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $539.05, for a total transaction of $5,390,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jim P. Manzi sold 572 shares of the firm’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $536.54, for a total transaction of $306,900.88. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. MV Capital Management Inc. grew its position in Thermo Fisher Scientific by 577.8% in the second quarter. MV Capital Management Inc. now owns 61 shares of the medical research company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Roble Belko & Company Inc grew its position in Thermo Fisher Scientific by 914.3% in the first quarter. Roble Belko & Company Inc now owns 71 shares of the medical research company’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Bedel Financial Consulting Inc. grew its position in Thermo Fisher Scientific by 65.0% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 66 shares of the medical research company’s stock worth $33,000 after purchasing an additional 26 shares in the last quarter. Lake Point Wealth Management purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $34,000. Finally, FFT Wealth Management LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Earnings History and Estimates for Thermo Fisher Scientific (NYSE:TMO)

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