Thermo Fisher Scientific (NYSE:TMO) updated its FY 2022 earnings guidance on Friday. The company provided EPS guidance of $21.160-$21.160 for the period, compared to the Thomson Reuters consensus EPS estimate of $19.680. The company issued revenue guidance of $40.30 billion-$40.30 billion, compared to the consensus revenue estimate of $34.29 billion.Thermo Fisher Scientific also updated its FY 2021 guidance to $22.070-$22.070 EPS.
A number of research firms have recently issued reports on TMO. BTIG Research boosted their target price on Thermo Fisher Scientific from $610.00 to $700.00 and gave the company a buy rating in a report on Wednesday. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $545.00 to $550.00 and gave the company an outperform rating in a research note on Wednesday, June 23rd. UBS Group boosted their target price on Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a buy rating in a research report on Tuesday. Zacks Investment Research downgraded Thermo Fisher Scientific from a hold rating to a strong sell rating and set a $491.00 target price on the stock. in a research report on Monday, July 12th. Finally, The Goldman Sachs Group upgraded Thermo Fisher Scientific from a buy rating to a conviction-buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of Buy and a consensus target price of $592.57.
TMO stock opened at $609.78 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.11 and a current ratio of 2.78. Thermo Fisher Scientific has a 1 year low of $412.80 and a 1 year high of $616.93. The firm has a market cap of $239.90 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74. The stock has a 50-day simple moving average of $554.00 and a 200-day simple moving average of $501.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.
Thermo Fisher Scientific declared that its board has approved a share repurchase program on Thursday, September 23rd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total transaction of $5,390,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jim P. Manzi sold 572 shares of the stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $536.54, for a total value of $306,900.88. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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