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

Thermo Fisher Scientific (NYSE:TMO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $21.14-22.02 for the period, compared to the consensus 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 Ratings Changes

A number of research firms have commented on TMO. Robert W. Baird reduced their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an outperform rating on the stock in a research report on Thursday. Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a neutral rating and a $620.00 price objective on the stock. HSBC boosted their price objective on Thermo Fisher Scientific from $630.00 to $660.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Sanford C. Bernstein reissued a market perform rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of Moderate Buy and an average target price of $606.76.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $573.60 on Friday. The firm has a market cap of $218.95 billion, a PE ratio of 36.79, a P/E/G ratio of 2.41 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $573.60 and a 200-day moving average of $529.90. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. As a group, sell-side analysts expect that Thermo Fisher Scientific will post 21.54 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business 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 was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total value of $5,979,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $74,039,491.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Debora L. Spar sold 164 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock worth $28,513,384 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

About Thermo Fisher Scientific

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.