Thermo Fisher Scientific (TMO) to Release Quarterly Earnings on Wednesday

Thermo Fisher Scientific (NYSE:TMO) is scheduled to announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $4.71 per share for the quarter. Thermo Fisher Scientific has set its FY 2024 guidance at 20.950-22.000 EPS and its FY24 guidance at $20.95 to $22.00 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. The company had revenue of $10.89 billion during the quarter, compared to analysts’ expectations of $10.73 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. Thermo Fisher Scientific’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.40 EPS. On average, analysts expect Thermo Fisher Scientific to post $22 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Thermo Fisher Scientific Trading Down 0.6 %

Shares of NYSE TMO opened at $554.65 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $571.67 and a two-hundred day simple moving average of $526.87. The firm has a market cap of $211.72 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.80. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month high of $603.82.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 10.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Evercore ISI boosted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Raymond James boosted their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada upped their target price on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $601.56.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,277 shares of company stock worth $28,513,384. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently made changes to their positions in TMO. Bornite Capital Management LP lifted its stake in Thermo Fisher Scientific by 50.0% in the first quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock valued at $17,719,000 after buying an additional 10,000 shares during the last quarter. Fairfield Bush & CO. grew its holdings in Thermo Fisher Scientific by 1.2% in the first quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after purchasing an additional 36 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Thermo Fisher Scientific by 563.5% in the first quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after purchasing an additional 16,853 shares during the last quarter. Covestor Ltd grew its holdings in Thermo Fisher Scientific by 60.5% in the first quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after purchasing an additional 121 shares during the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Thermo Fisher Scientific by 3.6% during the first quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after acquiring an additional 23 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.