Thermo Fisher Scientific (NYSE:TMO) Updates FY24 Earnings Guidance

Thermo Fisher Scientific (NYSE:TMO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $21.14-22.02 for the period, compared to the consensus earnings per share estimate of $21.51. The company issued revenue guidance of $42.3-43.3 billion, compared to the consensus revenue estimate of $42.83 billion. Thermo Fisher Scientific also updated its FY 2024 guidance to 21.140-22.020 EPS.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $575.10 on Wednesday. The firm has a market cap of $219.52 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The firm’s 50-day simple moving average is $572.03 and its 200-day simple moving average is $528.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. Thermo Fisher Scientific has a 1 year low of $415.60 and a 1 year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. The business had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.40 EPS. Equities analysts forecast that Thermo Fisher Scientific will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $0.39 per share. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is 10.10%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein reiterated a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a neutral rating and a $620.00 target price for the company. Barclays cut shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and upped their target price for the stock from $475.00 to $555.00 in a research report on Wednesday, January 24th. Royal Bank of Canada upped their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Finally, HSBC upped their target price on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $604.69.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at $660,192.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,277 shares of company stock valued at $28,513,384. Corporate insiders own 0.32% 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.