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

Thermo Fisher Scientific (NYSE:TMO) released its quarterly earnings results on Wednesday. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41, reports. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. Thermo Fisher Scientific updated its FY 2024 guidance to 21.140-22.020 EPS and its FY24 guidance to $21.14-22.02 EPS.

Thermo Fisher Scientific Trading Down 0.9 %

NYSE TMO opened at $572.10 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $218.38 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The firm’s fifty day simple moving average is $573.08 and its 200-day simple moving average is $529.36.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Activity

In related news, 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 value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the business. Northwest Financial Advisors purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. True Wealth Design LLC lifted its position in shares of Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares during the period. Pineridge Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $39,000. Cape Investment Advisory Inc. increased its stake in Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 49.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TMO shares. Citigroup initiated coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.76.

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.