Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) – Research analysts at KeyCorp dropped their Q3 2022 earnings estimates for shares of Thermo Fisher Scientific in a research report issued on Thursday, April 28th. KeyCorp analyst P. Knight now anticipates that the medical research company will post earnings of $4.85 per share for the quarter, down from their previous estimate of $4.90. KeyCorp also issued estimates for Thermo Fisher Scientific’s Q4 2022 earnings at $5.59 EPS, FY2022 earnings at $22.65 EPS and FY2024 earnings at $26.40 EPS.
TMO has been the topic of several other research reports. Barclays assumed coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, January 26th. They set an “overweight” rating and a $700.00 target price on the stock. StockNews.com assumed coverage on Thermo Fisher Scientific in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $609.00 target price on the stock. in a research report on Monday, January 24th. BTIG Research restated a “buy” rating and set a $718.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, February 3rd. Finally, Wells Fargo & Company downgraded Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $605.00 to $525.00 in a research report on Monday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $647.00.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last announced its earnings results on Thursday, April 28th. The medical research company reported $7.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.20 by $1.05. The business had revenue of $11.82 billion during the quarter, compared to analyst estimates of $10.66 billion. Thermo Fisher Scientific had a return on equity of 25.69% and a net margin of 18.49%. Thermo Fisher Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $7.21 EPS.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Thermo Fisher Scientific by 3.8% in the fourth quarter. BlackRock Inc. now owns 30,982,611 shares of the medical research company’s stock worth $20,672,838,000 after buying an additional 1,143,333 shares during the period. State Street Corp lifted its holdings in Thermo Fisher Scientific by 3.4% in the fourth quarter. State Street Corp now owns 16,223,173 shares of the medical research company’s stock worth $10,828,875,000 after buying an additional 529,712 shares during the period. Capital World Investors lifted its holdings in Thermo Fisher Scientific by 0.8% in the third quarter. Capital World Investors now owns 14,886,786 shares of the medical research company’s stock worth $8,505,340,000 after buying an additional 114,582 shares during the period. Capital Research Global Investors increased its stake in shares of Thermo Fisher Scientific by 2.3% during the fourth quarter. Capital Research Global Investors now owns 9,454,032 shares of the medical research company’s stock valued at $6,308,097,000 after purchasing an additional 208,075 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 6,403,805 shares of the medical research company’s stock valued at $4,261,136,000 after purchasing an additional 214,375 shares in the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jim P. Manzi sold 1,500 shares of the stock in a transaction on Monday, February 14th. The stock was sold at an average price of $563.95, for a total value of $845,925.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.43% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Wednesday, March 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, March 15th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.26. Thermo Fisher Scientific’s dividend payout ratio is currently 6.26%.
Thermo Fisher Scientific Company Profile (Get Rating)
Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
- Get a free copy of the StockNews.com research report on Thermo Fisher Scientific (TMO)
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