Thermo Fisher Scientific (NYSE:TMO) Releases FY24 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $21.14-22.02 for the period, compared to the consensus estimate of $21.51. The company issued revenue guidance of $42.3-43.3 billion, compared to the consensus revenue estimate of $42.83 billion. Thermo Fisher Scientific also updated its FY 2024 guidance to 21.140-22.020 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TMO. Evercore ISI increased their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. HSBC increased their price target on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Barclays downgraded shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and raised their target price for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. Raymond James raised their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Sanford C. Bernstein reaffirmed a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $604.69.

Thermo Fisher Scientific Trading Up 0.5 %

Shares of Thermo Fisher Scientific stock traded up $3.03 on Wednesday, hitting $577.62. The stock had a trading volume of 2,034,882 shares, compared to its average volume of 1,567,231. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The stock has a market cap of $220.48 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.31 and a beta of 0.80. The stock’s 50-day simple moving average is $572.03 and its two-hundred day simple moving average is $528.72.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.64 by $0.03. The firm had revenue of $10.89 billion for the quarter, compared to analysts’ expectations of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $5.40 earnings per share. As a group, sell-side analysts predict that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is 10.10%.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock worth $28,513,384 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

About Thermo Fisher Scientific

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.