What is Zacks Research’s Estimate for TMO FY2024 Earnings?

Thermo Fisher Scientific Inc. (NYSE:TMO) – Zacks Research reduced their FY2024 earnings estimates for shares of Thermo Fisher Scientific in a research note issued on Tuesday, November 12th. Zacks Research analyst R. Department now anticipates that the medical research company will earn $21.52 per share for the year, down from their prior forecast of $21.66. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.69 per share. Zacks Research also issued estimates for Thermo Fisher Scientific’s FY2025 earnings at $23.09 EPS and FY2026 earnings at $26.31 EPS.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company posted $5.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Bank of America increased their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Down 3.7 %

TMO opened at $513.08 on Friday. The firm has a 50 day moving average price of $588.39 and a 200 day moving average price of $582.69. The company has a market cap of $196.25 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific has a 1 year low of $464.17 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific declared that its board has authorized a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insiders Place Their Bets

In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 over the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cedar Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after buying an additional 17 shares in the last quarter. Beaumont Financial Advisors LLC boosted its stake in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after buying an additional 17 shares in the last quarter. Lafayette Investments Inc. boosted its stake in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares in the last quarter. IFG Advisors LLC boosted its stake in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after buying an additional 17 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the period. Institutional investors own 89.23% of the company’s stock.

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.