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

by · The Markets Daily

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 21.350-22.070 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stephens began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Barclays boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday, September 20th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $656.00.

Check Out Our Latest Analysis on Thermo Fisher Scientific

Thermo Fisher Scientific Stock Down 1.5 %

NYSE TMO opened at $586.25 on Wednesday. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The business’s 50-day moving average is $607.55 and its 200 day moving average is $584.45. The stock has a market capitalization of $223.95 billion, a PE ratio of 36.37, a PEG ratio of 3.85 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Thermo Fisher Scientific will post 21.72 earnings per share for the current year.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate 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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