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

Thermo Fisher Scientific (NYSE:TMO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $21.14-22.02 for the period, compared to the consensus EPS 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.

Thermo Fisher Scientific Stock Up 4.9 %

Thermo Fisher Scientific stock opened at $575.10 on Wednesday. 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 business’s 50-day simple moving average is $572.03 and its two-hundred day simple moving average is $528.72. The company has a market cap of $219.52 billion, a PE ratio of 37.22, a PEG ratio of 2.31 and a beta of 0.80. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to the consensus estimate of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.40 EPS. Equities analysts anticipate that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is 10.10%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TMO shares. Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a neutral rating and a $620.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a report on Thursday, February 1st. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Barclays cut Thermo Fisher Scientific from an overweight rating to an equal weight rating and upped their price target for the stock from $475.00 to $555.00 in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of Moderate Buy and an average target price of $604.69.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the transaction, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the transaction, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 over the last quarter. 0.32% of the stock is currently owned by 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.