SVB Leerink Weighs in on Thermo Fisher Scientific Inc.’s Q2 2022 Earnings (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) – Equities researchers at SVB Leerink lifted their Q2 2022 earnings estimates for Thermo Fisher Scientific in a report released on Thursday, May 19th. SVB Leerink analyst P. Souda now expects that the medical research company will post earnings per share of $5.19 for the quarter, up from their previous forecast of $5.18. SVB Leerink also issued estimates for Thermo Fisher Scientific’s FY2022 earnings at $22.75 EPS, Q1 2023 earnings at $5.88 EPS, Q2 2023 earnings at $5.85 EPS, Q3 2023 earnings at $5.96 EPS, Q4 2023 earnings at $6.56 EPS and FY2023 earnings at $24.26 EPS.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last issued its earnings results on Thursday, April 28th. The medical research company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.20 by $1.05. The company had revenue of $11.82 billion during the quarter, compared to analysts’ expectations of $10.66 billion. Thermo Fisher Scientific had a net margin of 18.49% and a return on equity of 25.33%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company earned $7.21 EPS.

A number of other analysts have also commented on TMO. Wells Fargo & Company lowered shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $605.00 to $525.00 in a research note on Monday, April 25th. BTIG Research reiterated a “buy” rating and issued a $718.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, February 3rd. Barclays assumed coverage on Thermo Fisher Scientific in a research report on Wednesday, January 26th. They set an “overweight” rating and a $700.00 price target 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. Finally, StockNews.com began coverage on Thermo Fisher Scientific in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $647.00.

Thermo Fisher Scientific stock opened at $555.15 on Monday. The company has a market cap of $217.32 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.87 and a beta of 0.83. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The business’s 50 day simple moving average is $565.30 and its 200 day simple moving average is $589.70. Thermo Fisher Scientific has a 12 month low of $438.72 and a 12 month high of $672.34.

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $2,784,029,000. BlackRock Inc. grew its stake 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 valued at $20,672,838,000 after acquiring an additional 1,143,333 shares during the period. Parnassus Investments LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $552,948,000. Marshall Wace LLP lifted its holdings in shares of Thermo Fisher Scientific by 146.4% in the fourth quarter. Marshall Wace LLP now owns 1,043,844 shares of the medical research company’s stock valued at $696,497,000 after purchasing an additional 620,291 shares in the last quarter. Finally, Liontrust Investment Partners LLP purchased a new stake in Thermo Fisher Scientific in the third quarter worth $311,726,000. 87.48% of the stock is owned by institutional investors.

In related news, Director Debora L. Spar sold 200 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $544.36, for a total value of $108,872.00. Following the completion of the sale, the director now directly owns 810 shares in the company, valued at approximately $440,931.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $545.60, for a total transaction of $5,456,000.00. Following the transaction, the chief executive officer now directly owns 183,373 shares in the company, valued at $100,048,308.80. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock worth $6,791,597 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Tuesday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 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.

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Earnings History and Estimates for Thermo Fisher Scientific (NYSE:TMO)

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