Q3 2024 Earnings Forecast for Thermo Fisher Scientific Inc. Issued By Leerink Partnrs (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Analysts at Leerink Partnrs dropped their Q3 2024 earnings per share estimates for Thermo Fisher Scientific in a research note issued to investors on Wednesday, July 24th. Leerink Partnrs analyst P. Souda now anticipates that the medical research company will post earnings of $5.21 per share for the quarter, down from their previous estimate of $5.46. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.64 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q4 2024 earnings at $6.04 EPS, Q1 2025 earnings at $5.68 EPS, Q2 2025 earnings at $5.96 EPS, Q3 2025 earnings at $6.00 EPS, Q4 2025 earnings at $6.76 EPS, FY2025 earnings at $24.40 EPS and FY2026 earnings at $27.66 EPS.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year.

TMO has been the topic of several other research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $618.94.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $594.50 on Friday. The company has a market capitalization of $226.93 billion, a PE ratio of 38.13, a PEG ratio of 2.68 and a beta of 0.77. The business has a fifty day moving average price of $562.77 and a 200-day moving average price of $565.19. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.33.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently modified their holdings of TMO. Callan Family Office LLC boosted its stake in Thermo Fisher Scientific by 222.5% in the second quarter. Callan Family Office LLC now owns 4,151 shares of the medical research company’s stock valued at $2,296,000 after acquiring an additional 2,864 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of Thermo Fisher Scientific by 15.0% in the 2nd quarter. SlateStone Wealth LLC now owns 5,869 shares of the medical research company’s stock worth $3,246,000 after purchasing an additional 767 shares in the last quarter. Rational Advisors LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth $181,000. Catalyst Financial Partners LLC raised its stake in Thermo Fisher Scientific by 6.5% in the second quarter. Catalyst Financial Partners LLC now owns 1,914 shares of the medical research company’s stock valued at $1,058,000 after buying an additional 116 shares during the last quarter. Finally, New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the second quarter worth about $29,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.