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 21.140-22.020 for the period, compared to the consensus EPS estimate of 21.530. The company issued revenue guidance of $42.3 billion-$43.3 billion, compared to the consensus revenue estimate of $42.8 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.14-22.02 EPS.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TMO shares. Raymond James upped their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Evercore ISI upped their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. 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 research note on Thursday. Finally, Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of Moderate Buy and a consensus target price of $606.76.

Thermo Fisher Scientific Trading Up 0.3 %

Shares of NYSE:TMO opened at $573.60 on Friday. The company has a market capitalization of $218.95 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. The business’s 50 day simple moving average is $573.60 and its 200 day simple moving average is $529.90.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, research analysts anticipate that Thermo Fisher Scientific will post 21.54 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

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 value of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the firm’s 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 directly owns 12,901 shares in the company, valued at approximately $7,250,362. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by corporate insiders.

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.