Thermo Fisher Scientific Inc. (NYSE:TMO) – Equities research analysts at SVB Leerink boosted their Q3 2021 earnings estimates for shares of Thermo Fisher Scientific in a report issued on Monday, September 20th. SVB Leerink analyst P. Souda now anticipates that the medical research company will earn $4.63 per share for the quarter, up from their previous estimate of $4.51. SVB Leerink has a “Outperform” rating and a $675.00 price target on the stock. SVB Leerink also issued estimates for Thermo Fisher Scientific’s Q4 2021 earnings at $4.73 EPS, Q3 2022 earnings at $5.44 EPS, Q4 2022 earnings at $5.94 EPS and FY2022 earnings at $21.23 EPS.
A number of other equities research analysts have also recently weighed in on TMO. Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $545.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, June 23rd. Jefferies Financial Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday. They set a “hold” rating and a $540.00 price objective on the stock. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price objective on the stock. in a research note on Monday, July 12th. Cowen boosted their price target on shares of Thermo Fisher Scientific from $560.00 to $655.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Argus boosted their price target on shares of Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $592.57.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $0.09. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $8.75 billion. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%.
Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase program on Thursday, September 23rd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 annualized dividend and a yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 5.32%.
In related news, Director Jim P. Manzi sold 572 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $536.54, for a total value of $306,900.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total value of $5,390,500.00. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in Thermo Fisher Scientific by 2.1% in the 2nd quarter. State Street Corp now owns 15,553,658 shares of the medical research company’s stock worth $7,850,342,000 after purchasing an additional 318,930 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Thermo Fisher Scientific by 19.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,316,751 shares of the medical research company’s stock worth $6,717,901,000 after purchasing an additional 2,133,690 shares during the last quarter. Morgan Stanley lifted its holdings in Thermo Fisher Scientific by 7.3% in the 1st quarter. Morgan Stanley now owns 8,293,242 shares of the medical research company’s stock worth $3,784,871,000 after purchasing an additional 566,814 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.9% during the second quarter. Geode Capital Management LLC now owns 6,070,059 shares of the medical research company’s stock worth $3,052,801,000 after buying an additional 173,240 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Thermo Fisher Scientific by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 4,560,676 shares of the medical research company’s stock worth $2,081,402,000 after buying an additional 53,508 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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