Thermo Fisher Scientific Inc. (NYSE:TMO) to Post Q2 2024 Earnings of $5.19 Per Share, Leerink Partnrs Forecasts

Thermo Fisher Scientific Inc. (NYSE:TMO) – Equities researchers at Leerink Partnrs lowered their Q2 2024 EPS estimates for Thermo Fisher Scientific in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst P. Souda now expects that the medical research company will earn $5.19 per share for the quarter, down from their previous estimate of $5.20. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.52 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q3 2024 earnings at $5.46 EPS, Q4 2024 earnings at $5.99 EPS, FY2024 earnings at $21.75 EPS, Q1 2025 earnings at $5.62 EPS, Q2 2025 earnings at $5.88 EPS, Q3 2025 earnings at $6.12 EPS, Q4 2025 earnings at $6.63 EPS, FY2025 earnings at $24.26 EPS and FY2026 earnings at $26.94 EPS.

A number of other brokerages have also weighed in on TMO. Royal Bank of Canada raised their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays raised their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James raised their price target on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $606.76.

Thermo Fisher Scientific Trading Down 0.9 %

TMO stock opened at $572.10 on Friday. The company’s 50-day simple moving average is $573.08 and its 200-day simple moving average is $529.36. 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 52-week low of $415.60 and a 52-week high of $603.82. The firm has a market cap of $218.38 billion, a P/E ratio of 36.70, a PEG ratio of 2.44 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors have recently modified their holdings of the company. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at $29,000. True Wealth Design LLC increased its stake in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the period. Pineridge Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $39,000. Cape Investment Advisory Inc. increased its stake in shares of Thermo Fisher Scientific by 52.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after acquiring an additional 26 shares during the period. Finally, Raleigh Capital Management Inc. increased its stake in shares of Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after acquiring an additional 27 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,547 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the completion of the transaction, the chief executive officer now owns 43,608 shares of the company’s stock, valued at approximately $24,011,436.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,277 shares of company stock worth $28,513,384. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.