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

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $21.35-$22.07 for the period, compared to the consensus earnings per share estimate of $21.71. The company issued revenue guidance of $42.4-$43.3 billion, compared to the consensus revenue estimate of $42.89 billion. Thermo Fisher Scientific also updated its FY 2024 guidance to 21.350-22.070 EPS.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $554.38 on Friday. The firm has a 50-day moving average of $605.12 and a 200-day moving average of $584.04. The firm has a market cap of $211.77 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific has a 1-year low of $420.21 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.69 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific will post 21.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TMO shares. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday. Bernstein Bank upped their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% 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.