Thermo Fisher Scientific Inc. (TMO) Expected to Post Earnings of $2.24 Per Share
Analysts forecast that Thermo Fisher Scientific Inc. (NYSE:TMO) will report $2.24 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Thermo Fisher Scientific’s earnings. The highest EPS estimate is $2.28 and the lowest is $2.20. Thermo Fisher Scientific posted earnings per share of $2.03 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The business is expected to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Thermo Fisher Scientific will report full year earnings of $9.24 per share for the current financial year, with EPS estimates ranging from $9.21 to $9.28. For the next year, analysts expect that the firm will post earnings of $10.24 per share, with EPS estimates ranging from $9.85 to $10.81. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Thermo Fisher Scientific.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a return on equity of 11.11% and a net margin of 12.27%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS.
TMO has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on Thermo Fisher Scientific in a research note on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price objective on the stock. Barclays PLC set a $175.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 26th. Cowen and Company reiterated an “outperform” rating and issued a $185.00 price objective (up from $175.00) on shares of Thermo Fisher Scientific in a research note on Saturday, April 29th. Citigroup Inc. reiterated a “buy” rating and issued a $201.00 price objective (up from $182.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 10th. Finally, BidaskClub upgraded Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $188.56.
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In related news, Director Jim P. Manzi sold 1,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $175.20, for a total value of $175,200.00. Following the completion of the sale, the director now owns 38,757 shares in the company, valued at approximately $6,790,226.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 20,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the completion of the sale, the chief executive officer now owns 269,279 shares of the company’s stock, valued at approximately $46,528,718.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,506 shares of company stock valued at $6,834,758. 0.49% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Thermo Fisher Scientific by 2.4% in the second quarter. Vanguard Group Inc. now owns 26,600,394 shares of the medical research company’s stock worth $4,640,970,000 after buying an additional 629,093 shares during the period. BlackRock Inc. boosted its position in Thermo Fisher Scientific by 1.6% in the second quarter. BlackRock Inc. now owns 23,355,469 shares of the medical research company’s stock worth $4,074,828,000 after buying an additional 366,584 shares during the period. Capital Research Global Investors boosted its position in Thermo Fisher Scientific by 29.8% in the second quarter. Capital Research Global Investors now owns 17,304,897 shares of the medical research company’s stock worth $3,019,185,000 after buying an additional 3,973,136 shares during the period. State Street Corp boosted its position in Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock worth $2,470,802,000 after buying an additional 164,367 shares during the period. Finally, Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 6.1% in the second quarter. Capital World Investors now owns 11,759,734 shares of the medical research company’s stock valued at $2,051,721,000 after buying an additional 671,637 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Shares of Thermo Fisher Scientific (NYSE TMO) traded up 1.60% during mid-day trading on Tuesday, hitting $176.79. The company had a trading volume of 1,271,562 shares. The firm has a market cap of $68.97 billion, a PE ratio of 30.80 and a beta of 1.06. Thermo Fisher Scientific has a 12-month low of $139.07 and a 12-month high of $182.87. The firm’s 50 day moving average is $176.70 and its 200-day moving average is $166.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.45%.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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