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

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TMO. Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a report on Thursday, February 1st. Barclays lowered 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. Raymond James increased their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a report on Thursday, February 1st. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Evercore ISI upped their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $604.69.

Thermo Fisher Scientific Stock Up 0.5 %

Shares of TMO traded up $3.03 during midday trading on Wednesday, reaching $577.62. 2,034,882 shares of the stock were exchanged, compared to its average volume of 1,567,231. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week high of $603.82. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $572.03 and its two-hundred day moving average is $528.72. The company has a market capitalization of $220.48 billion, a P/E ratio of 37.39, a PEG ratio of 2.31 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.73 billion. During the same quarter last year, the company earned $5.40 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Thermo Fisher Scientific will post 21.51 earnings per share for the current year.

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 dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.10%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. 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 over the last quarter. 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.