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 21.290-22.070 for the period, compared to the consensus estimate of 21.700. The company issued revenue guidance of $42.4 billion-$43.3 billion, compared to the consensus revenue estimate of $43.0 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.29-22.07 EPS.

Thermo Fisher Scientific Trading Up 1.8 %

Shares of NYSE TMO traded up $10.74 during trading on Friday, hitting $605.24. 962,227 shares of the company were exchanged, compared to its average volume of 1,552,290. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $614.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.33 and a current ratio of 1.72. The company has a fifty day moving average price of $562.77 and a 200-day moving average price of $565.19. The firm has a market capitalization of $231.03 billion, a PE ratio of 38.13, a P/E/G ratio of 2.68 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the firm earned $5.15 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that Thermo Fisher Scientific will post 21.64 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TMO shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an outperform rating in a research note on Thursday. TD Cowen boosted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a buy rating in a research note on Thursday. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus boosted their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a buy rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of Moderate Buy and an average price target of $618.94.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

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.