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

by · The Cerbat Gem

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 21.350-22.070 for the period, compared to the consensus estimate of 21.720. The company issued revenue guidance of $42.4 billion-$43.3 billion, compared to the consensus revenue estimate of $42.9 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.35-$22.07 EPS.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TMO shares. Sanford C. Bernstein cut their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday. Morgan Stanley upped their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Stifel Nicolaus reduced their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Read Our Latest Research Report on TMO

Thermo Fisher Scientific Trading Up 0.2 %

Shares of NYSE TMO traded up $1.32 during midday trading on Friday, reaching $558.70. 209,626 shares of the stock were exchanged, compared to its average volume of 1,463,159. Thermo Fisher Scientific has a twelve month low of $420.21 and a twelve month high of $627.88. The stock has a market capitalization of $213.42 billion, a P/E ratio of 34.72, a PEG ratio of 3.75 and a beta of 0.77. The company has a 50 day simple moving average of $606.12 and a 200 day simple moving average of $584.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.69 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

(Get Free Report)

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.

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