Thermo Fisher Scientific (NYSE:TMO) updated its FY 2021 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $22.070-$22.070 for the period, compared to the Thomson Reuters consensus estimate of $22.160. The company issued revenue guidance of $35.90 billion-$35.90 billion, compared to the consensus revenue estimate of $36.06 billion.Thermo Fisher Scientific also updated its FY 2022 guidance to $21.160-$21.160 EPS.
A number of brokerages have commented on TMO. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $700.00 and gave the stock an overweight rating in a report on Monday. Benchmark boosted their price objective on shares of Thermo Fisher Scientific from $580.00 to $650.00 and gave the company a buy rating in a research report on Wednesday. SVB Leerink upped their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock an outperform rating in a research report on Monday. Cowen upped their target price on shares of Thermo Fisher Scientific from $560.00 to $655.00 and gave the stock an outperform rating in a research report on Thursday. Finally, UBS Group upped their price target on shares of Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a buy rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $592.57.
Thermo Fisher Scientific stock traded down $1.52 during trading hours on Friday, hitting $606.71. The company had a trading volume of 29,567 shares, compared to its average volume of 1,606,459. The firm’s fifty day moving average is $552.20 and its 200-day moving average is $500.14. Thermo Fisher Scientific has a fifty-two week low of $412.80 and a fifty-two week high of $614.13. The firm has a market capitalization of $238.69 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.78 and a quick ratio of 2.11.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Wednesday, September 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 annualized dividend and a dividend yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 5.32%.
Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback program on Thursday, September 23rd that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 572 shares of the stock in a transaction on Friday, July 30th. The shares were sold at an average price of $536.54, for a total value of $306,900.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $539.05, for a total transaction of $5,390,500.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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