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

Thermo Fisher Scientific (NYSE:TMO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 21.140-22.020 for the period, compared to the consensus earnings per share estimate of 21.530. The company issued revenue guidance of $42.3 billion-$43.3 billion, compared to the consensus revenue estimate of $42.8 billion. Thermo Fisher Scientific also updated its FY24 guidance to $21.14-22.02 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Royal Bank of Canada raised their price target 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. HSBC raised their price target 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. Raymond James raised their price objective on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Evercore ISI raised their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, Citigroup began coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $604.69.

Thermo Fisher Scientific Stock Performance

TMO opened at $577.62 on Thursday. The stock has a market cap of $220.48 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.42 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The business has a 50 day moving average of $572.61 and a 200-day moving average of $529.06.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. On average, equities research analysts expect that Thermo Fisher Scientific will post 21.51 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is presently 10.10%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 in the last three months. 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.