Thermo Fisher Scientific (NYSE:TMO) Releases 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 (EPS) guidance of 21.140-22.020 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a neutral rating and a $620.00 price target on the stock. Evercore ISI raised their price objective 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. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Royal Bank of Canada raised their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Finally, Barclays downgraded shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and raised their price objective for the company 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $604.69.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $577.62 on Thursday. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week high of $603.82. The stock has a market capitalization of $220.48 billion, a P/E ratio of 37.39, a PEG ratio of 2.42 and a beta of 0.80. The firm has a fifty day simple moving average of $572.61 and a two-hundred day simple moving average of $529.06. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. On average, analysts expect that Thermo Fisher Scientific will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on 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 owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on 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 owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock worth $28,513,384 in the last 90 days. 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.