Thermo Fisher Scientific (NYSE:TMO) Updates 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

Several equities research analysts have weighed in on the stock. HSBC increased their target price on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. The Goldman Sachs Group raised their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Raymond James upped their price target on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada upped their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of Moderate Buy and a consensus target price of $604.69.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded up $2.23 on Wednesday, reaching $576.82. 1,419,087 shares of the stock were exchanged, compared to its average volume of 1,559,293. The firm’s 50 day moving average is $572.03 and its 200-day moving average is $528.72. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The firm has a market cap of $220.18 billion, a PE ratio of 37.32, a P/E/G ratio of 2.31 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating the consensus estimate of $5.64 by $0.03. The business had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.40 EPS. As a group, analysts anticipate that Thermo Fisher Scientific will post 21.51 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other 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 sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a filing with the SEC, which is available at this link. In other 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 sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was 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 of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock worth $28,513,384 over the last three months. 0.32% of the stock is owned by company insiders.

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.