Thermo Fisher Scientific (NYSE:TMO) Updates FY 2024 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 21.140-22.020 for the period, compared to the consensus earnings per share estimate of 21.530. The company issued revenue guidance of $42.3 billion-$43.3 billion, compared to the consensus revenue estimate of $42.8 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.14-22.02 EPS.

Thermo Fisher Scientific Trading Up 0.3 %

NYSE:TMO opened at $573.60 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.39 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 market cap of $218.95 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company has a 50 day simple moving average of $573.60 and a two-hundred day simple moving average of $529.90.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Research analysts forecast that Thermo Fisher Scientific will post 21.54 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Raymond James lifted their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a research note on Thursday. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a neutral rating and a $620.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of Moderate Buy and a consensus price target of $606.76.

Insider Activity

In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now owns 1,207 shares in the company, valued at $660,192.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,277 shares of company stock worth $28,513,384. 0.32% of the stock is currently 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.