Thermo Fisher Scientific (NYSE:TMO) Issues Quarterly Earnings Results

Thermo Fisher Scientific (NYSE:TMO) announced its quarterly earnings data on Wednesday. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03, Briefing.com reports. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business 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 Down 3.3 %

Shares of Thermo Fisher Scientific stock traded down $19.11 on Thursday, reaching $557.38. 1,749,147 shares of the company were exchanged, compared to its average volume of 1,469,244. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88. The company has a market capitalization of $212.92 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.75 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $607.04 and a 200 day moving average of $584.39.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TMO. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday. Stephens assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Raymond James boosted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.