Thermo Fisher Scientific (NYSE:TMO) Updates 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 Ratings Changes

A number of equities analysts have commented on TMO shares. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research report on Thursday. Citigroup assumed coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They set a neutral rating and a $620.00 price objective for the company. Barclays upped their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an equal weight rating in a research report on Thursday. Finally, Raymond James increased their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $606.76.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $2.03 during midday trading on Friday, reaching $573.76. 613,073 shares of the company traded hands, compared to its average volume of 1,551,450. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The firm has a market cap of $219.01 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80. The firm’s 50 day simple moving average is $573.08 and its two-hundred day simple moving average is $529.36.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating 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. On average, equities research analysts expect that Thermo Fisher Scientific will post 21.52 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the company’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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,039,491.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. 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 ninety days. 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.