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

Thermo Fisher Scientific (NYSE:TMO) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 21.290-22.070 for the period, compared to the consensus EPS estimate of 21.700. The company issued revenue guidance of $42.4 billion-$43.3 billion, compared to the consensus revenue estimate of $43.0 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.29-22.07 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on TMO. HSBC upped their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. boosted 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, April 25th. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a buy rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $618.94.

Thermo Fisher Scientific Stock Up 1.8 %

NYSE:TMO traded up $10.74 during trading hours on Friday, hitting $605.24. 962,227 shares of the company’s stock traded hands, compared to its average volume of 1,552,290. The firm has a market cap of $231.03 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.68 and a beta of 0.77. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $614.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.33 and a current ratio of 1.72. The stock’s fifty day moving average price is $562.77 and its two-hundred day moving average price is $565.19.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the firm posted $5.15 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by 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.