Thermo Fisher Scientific (NYSE:TMO) Issues FY24 Earnings Guidance

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

Thermo Fisher Scientific Stock Up 0.3 %

Shares of NYSE TMO opened at $573.60 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. The company has a market cap of $218.95 billion, a P/E ratio of 36.79, a PEG ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82. The firm has a 50-day simple moving average of $573.60 and a two-hundred day simple moving average of $529.90.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Research analysts anticipate that Thermo Fisher Scientific will post 21.54 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an overweight rating in a report on Thursday. Evercore ISI lifted their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an outperform rating in a report on Thursday, April 4th. Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a buy rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of Moderate Buy and an average price target of $606.76.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,277 shares of company stock worth $28,513,384. Company insiders own 0.32% of the company’s stock.

About Thermo Fisher Scientific

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.