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

Thermo Fisher Scientific (NYSE:TMO) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup began coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price objective for the company. Barclays downgraded shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and increased their price target for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Royal Bank of Canada raised their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating on the stock in a research report on Thursday. Finally, HSBC lifted their price objective on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the company a buy rating in a report on Wednesday, April 17th. Five equities 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 stock currently has a consensus rating of Moderate Buy and a consensus target price of $602.81.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $4.85 during trading hours on Thursday, reaching $572.54. 527,626 shares of the company’s stock were exchanged, compared to its average volume of 1,554,953. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The firm has a market capitalization of $218.54 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average of $572.61 and a 200 day moving average of $529.06.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Research analysts anticipate that Thermo Fisher Scientific will post 21.51 EPS for the current 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 dividend of $0.39 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.10%.

Insider Transactions at Thermo Fisher Scientific

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