Thermo Fisher Scientific (NYSE:TMO) Issues 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TMO. Barclays lifted their target price on Thermo Fisher Scientific from $600.00 to $620.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Stephens began 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. Finally, Stifel Nicolaus lifted their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $656.00.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded down $16.68 during trading on Wednesday, reaching $569.70. 720,055 shares of the company traded hands, compared to its average volume of 1,461,310. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $627.88. 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 stock has a market cap of $217.63 billion, a P/E ratio of 36.37, a PEG ratio of 3.85 and a beta of 0.77. The firm’s fifty day simple moving average is $607.55 and its 200 day simple moving average is $584.45.

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. As a group, research analysts anticipate that Thermo Fisher Scientific will post 21.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The stock was 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 approximately $10,747,403.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 in the last 90 days. 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.