Thermo Fisher Scientific (NYSE:TMO) Releases FY 2024 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 21.350-22.070 for the period, compared to the consensus earnings per share estimate of 21.720. The company issued revenue guidance of $42.4 billion-$43.3 billion, compared to the consensus revenue estimate of $42.9 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.35-$22.07 EPS.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent research reports. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Raymond James upped 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, July 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.25.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $13.22 on Thursday, reaching $563.27. 688,166 shares of the stock were exchanged, compared to its average volume of 1,464,053. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $627.88. 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 $215.17 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 3.75 and a beta of 0.77. The business has a 50 day moving average price of $607.04 and a two-hundred day moving average price of $584.39.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the firm posted $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock valued at $14,094,292 in the last three months. 0.34% of the stock is currently owned by company 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.