Thermo Fisher Scientific (NYSE:TMO) Announces Quarterly Earnings Results

Thermo Fisher Scientific (NYSE:TMO) released its quarterly earnings results on Wednesday. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24, Briefing.com reports. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the company posted $5.15 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Thermo Fisher Scientific updated its FY 2024 guidance to 21.290-22.070 EPS and its FY24 guidance to $21.29-22.07 EPS.

Thermo Fisher Scientific Trading Up 4.0 %

TMO traded up $23.16 during mid-day trading on Thursday, reaching $597.89. The stock had a trading volume of 2,468,688 shares, compared to its average volume of 1,548,302. The stock has a market capitalization of $228.23 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.58 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The firm’s fifty day simple moving average is $562.82 and its two-hundred day simple moving average is $564.99. Thermo Fisher Scientific has a 52 week low of $415.60 and a 52 week high of $603.82.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,000 shares of company stock worth $12,532,780. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HSBC increased their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Raymond James increased their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group increased their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $616.50.

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.