Thermo Fisher Scientific (NYSE:TMO) Issues FY24 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $21.14-22.02 for the period, compared to the consensus earnings per share estimate of $21.51. The company issued revenue guidance of $42.3-43.3 billion, compared to the consensus revenue estimate of $42.83 billion. Thermo Fisher Scientific also updated its FY 2024 guidance to 21.140-22.020 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TMO. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an overweight rating in a report on Thursday. Royal Bank of Canada upped their target price on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research report on Thursday, February 1st. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Citigroup assumed coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price target for the company. Finally, Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating for the company in a report on Thursday. Five investment 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 stock presently has a consensus rating of Moderate Buy and a consensus target price of $602.81.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded down $4.85 during trading hours on Thursday, hitting $572.54. 527,626 shares of the company were exchanged, compared to its average volume of 1,554,953. 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 $218.54 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $572.61 and a 200 day simple moving average of $529.06.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating 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 firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Research analysts predict that Thermo Fisher Scientific will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, March 14th. 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%. Thermo Fisher Scientific’s payout ratio is currently 10.10%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 5,547 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the sale, the chief executive officer now owns 43,608 shares in the company, valued at $24,011,436.96. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock valued at $28,513,384 over the last three months. Corporate 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.