Thermo Fisher Scientific Inc. (NYSE:TMO) to Post Q2 2024 Earnings of $5.19 Per Share, Leerink Partnrs Forecasts

Thermo Fisher Scientific Inc. (NYSE:TMO) – Leerink Partnrs lowered their Q2 2024 EPS estimates for Thermo Fisher Scientific in a research note issued on Wednesday, April 24th. Leerink Partnrs analyst P. Souda now forecasts that the medical research company will post earnings per share of $5.19 for the quarter, down from their previous estimate of $5.20. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.52 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q3 2024 earnings at $5.46 EPS, Q4 2024 earnings at $5.99 EPS, FY2024 earnings at $21.75 EPS, Q1 2025 earnings at $5.62 EPS, Q2 2025 earnings at $5.88 EPS, Q3 2025 earnings at $6.12 EPS, Q4 2025 earnings at $6.63 EPS, FY2025 earnings at $24.26 EPS and FY2026 earnings at $26.94 EPS.

A number of other analysts have also commented on the stock. Barclays lifted their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. HSBC lifted their price target on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $606.76.

Thermo Fisher Scientific Stock Down 0.9 %

Shares of TMO opened at $572.10 on Friday. The stock has a market cap of $218.38 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.44 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a 50-day moving average price of $573.08 and a two-hundred day moving average price of $529.36.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%.

Institutional Trading of Thermo Fisher Scientific

Large investors have recently made changes to their positions in the company. Northwest Financial Advisors acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. True Wealth Design LLC boosted its position in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $39,000. Cape Investment Advisory Inc. boosted its position in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after buying an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in Thermo Fisher Scientific by 49.1% in the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were 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 directly owns 123,816 shares of the company’s stock, valued at approximately $74,039,491.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 owns 123,816 shares in the company, valued at approximately $74,039,491.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 5,547 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the transaction, the chief executive officer now owns 43,608 shares in the company, valued at approximately $24,011,436.96. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 in the last three months. 0.32% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. This is a boost 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 is currently 10.01%.

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.