Thermo Fisher Scientific (TMO) Scheduled to Post Quarterly Earnings on Wednesday

Thermo Fisher Scientific (NYSE:TMOGet Free Report) will be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $4.71 per share for the quarter. Thermo Fisher Scientific has set its FY 2024 guidance at 20.950-22.000 EPS and its FY24 guidance at $20.95 to $22.00 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm earned $5.40 EPS. Thermo Fisher Scientific’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts expect Thermo Fisher Scientific to post $22 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $544.78 on Monday. The firm has a market cap of $207.95 billion, a P/E ratio of 35.26, a PEG ratio of 2.29 and a beta of 0.80. 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’s 50 day moving average price is $571.27 and its two-hundred day moving average price is $527.83.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given 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 0.29%. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.10%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now 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 three months, insiders have sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its position in shares of Thermo Fisher Scientific by 104,536.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock worth $4,601,150,000 after purchasing an additional 8,347,260 shares in the last quarter. Providence Capital Advisors LLC increased its stake in Thermo Fisher Scientific by 61,754.7% during the 1st quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after acquiring an additional 5,832,730 shares during the period. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $3,105,677,000. Morgan Stanley grew its holdings in shares of Thermo Fisher Scientific by 17.7% during the 4th quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock worth $6,459,629,000 after purchasing an additional 1,764,312 shares in the last quarter. Finally, CI Private Wealth LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $337,244,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. The Goldman Sachs Group boosted their target price on 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 lifted their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays cut shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $604.69.

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About Thermo Fisher Scientific

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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.

Further Reading

Earnings History for Thermo Fisher Scientific (NYSE:TMO)

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