Thermo Fisher Scientific (NYSE:TMO) Updates FY 2024 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 21.140-22.020 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price 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. Evercore ISI lifted their target price 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. HSBC boosted their price target on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, Barclays lowered shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and boosted their price target for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $604.69.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $575.10 on Wednesday. The company’s 50 day simple moving average is $572.03 and its 200-day simple moving average is $528.72. The company has a market capitalization of $219.52 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, topping the consensus estimate of $5.64 by $0.03. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The firm had revenue of $10.89 billion for the quarter, compared to the consensus estimate of $10.73 billion. During the same period in the prior year, the firm earned $5.40 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific will post 21.51 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced 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 is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 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 completion of the transaction, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 in the last ninety days. Company insiders own 0.32% 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.