Thermo Fisher Scientific (NYSE:TMO) Approves Share Buyback Program

Thermo Fisher Scientific (NYSE:TMO) declared that its Board of Directors has approved a share repurchase program on Thursday, November 6th, RTT News reports. The company plans to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on TMO shares. Barclays lifted their price target on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $560.00 to $656.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Royal Bank Of Canada set a $561.00 target price on shares of Thermo Fisher Scientific and gave the company an “outperform” rating in a report on Tuesday, September 2nd. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Nineteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.65.

Thermo Fisher Scientific Stock Down 0.2%

Shares of TMO stock traded down $1.17 on Thursday, reaching $566.47. 1,277,791 shares of the company were exchanged, compared to its average volume of 2,380,495. The company has a market cap of $212.83 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.27 and a beta of 0.82. The company has a 50-day moving average of $516.99 and a 200-day moving average of $461.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Analysts anticipate that Thermo Fisher Scientific will post 23.28 earnings per share for the current year.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $574.15, for a total value of $229,660.00. Following the transaction, the executive vice president owned 21,152 shares of the company’s stock, valued at approximately $12,144,420.80. This trade represents a 1.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Joseph R. Holmes sold 385 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares in the company, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 36,420 shares of company stock valued at $19,980,884 in the last 90 days. 0.33% 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.