Thermo Fisher Scientific (NYSE:TMO) Issues Earnings Results

Thermo Fisher Scientific (NYSE:TMO) posted its quarterly earnings data on Wednesday. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03, Briefing.com reports. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.69 EPS. Thermo Fisher Scientific updated its FY 2024 guidance to 21.350-22.070 EPS and its FY24 guidance to $21.35-$22.07 EPS.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $3.00 during midday trading on Friday, reaching $554.38. The stock had a trading volume of 1,086,281 shares, compared to its average volume of 1,467,407. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $211.77 billion, a PE ratio of 34.72, a P/E/G ratio of 3.75 and a beta of 0.77. Thermo Fisher Scientific has a 12 month low of $420.21 and a 12 month high of $627.88. The firm’s 50-day moving average price is $606.12 and its 200 day moving average price is $584.21.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target on the stock. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong 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 $649.33.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% 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.