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

Thermo Fisher Scientific (NYSE:TMO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 21.140-22.020 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TMO. Evercore ISI boosted their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a report 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. The Goldman Sachs Group lifted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Raymond James boosted their price target on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Finally, Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of Moderate Buy and a consensus target price of $604.69.

Thermo Fisher Scientific Stock Up 4.9 %

TMO opened at $575.10 on Wednesday. The business has a 50 day moving average price of $572.03 and a 200 day moving average price of $528.72. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The firm has a market cap of $219.52 billion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, topping analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company had revenue of $10.89 billion during the quarter, compared to analyst estimates of $10.73 billion. During the same period in the previous year, the company earned $5.40 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock worth $28,513,384. 0.32% of the stock is 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.