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

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

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $572.10 on Friday. The firm’s 50 day moving average price is $573.08 and its 200-day moving average price is $529.36. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $218.38 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Equities research analysts expect that Thermo Fisher Scientific will post 21.52 EPS for the current 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 paid a dividend of $0.39 per share. 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 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TMO. Barclays lifted 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 report on Thursday. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a research note on Thursday. Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group increased 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. Five equities 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 stock presently has a consensus rating of Moderate Buy and an average price target of $606.76.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. 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 Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by corporate insiders.

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.