Thermo Fisher Scientific (NYSE:TMO) Issues Earnings Results

Thermo Fisher Scientific (NYSE:TMO) announced its quarterly earnings data on Wednesday. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24, Briefing.com reports. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.15 earnings per share. 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 Price Performance

Shares of NYSE:TMO traded up $19.77 during trading on Thursday, hitting $594.50. 3,579,108 shares of the company’s stock were exchanged, compared to its average volume of 1,556,444. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $603.82. The business’s 50-day simple moving average is $562.82 and its 200 day simple moving average is $564.99. The company has a market cap of $226.93 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific Announces Dividend

The business also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TMO shares. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays decreased their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada boosted their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, HSBC boosted their price target on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $618.94.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction 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 $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,000 shares of company stock worth $12,532,780. 0.34% of the stock is 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.