Thermo Fisher Scientific (NYSE:TMO) Posts Earnings Results, Beats Expectations By $0.41 EPS

Thermo Fisher Scientific (NYSE:TMO) issued its quarterly earnings data on Wednesday. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41, reports. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Thermo Fisher Scientific updated its FY 2024 guidance to 21.140-22.020 EPS and its FY24 guidance to $21.14-22.02 EPS.

Thermo Fisher Scientific Trading Down 0.9 %

NYSE TMO opened at $572.10 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The firm has a market capitalization of $218.38 billion, a PE ratio of 36.70, a P/E/G ratio of 2.44 and a beta of 0.80. The stock’s 50 day moving average is $573.08 and its 200 day moving average is $529.36.

Thermo Fisher Scientific Increases Dividend

The company also recently declared 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 is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TMO. Sumitomo Life Insurance Co. raised its holdings in shares of Thermo Fisher Scientific by 31.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,690 shares of the medical research company’s stock worth $9,709,000 after acquiring an additional 4,186 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $53,063,000. MONECO Advisors LLC increased its position in shares of Thermo Fisher Scientific by 432.6% during the 1st quarter. MONECO Advisors LLC now owns 5,315 shares of the medical research company’s stock valued at $3,089,000 after purchasing an additional 4,317 shares during the last quarter. Petredis Investment Advisors LLC increased its position in shares of Thermo Fisher Scientific by 4.7% during the 1st quarter. Petredis Investment Advisors LLC now owns 7,298 shares of the medical research company’s stock valued at $4,242,000 after purchasing an additional 325 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc bought a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $218,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays raised their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group raised 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. Finally, HSBC raised their price objective on Thermo Fisher Scientific from $630.00 to $660.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $606.76.

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.