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

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their target price on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a report on Thursday, February 1st. The Goldman Sachs Group upped their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Evercore ISI increased their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Sanford C. Bernstein reiterated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Raymond James increased 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. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $606.76.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded up $2.03 during midday trading on Friday, hitting $573.76. The company had a trading volume of 613,073 shares, compared to its average volume of 1,551,450. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The company has a fifty day moving average of $573.08 and a two-hundred day moving average of $529.36. The company has a market cap of $219.01 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.44 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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 net margin of 14.20% and a return on equity of 18.45%. The business 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 21.52 EPS 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. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 14,566 shares of the firm’s 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 of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 14,566 shares of the firm’s 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 owns 12,901 shares in the company, valued at $7,250,362. 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. Corporate insiders own 0.32% of the company’s stock.

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.