Thermo Fisher Scientific (NYSE:TMO) Announces Earnings Results

by · The Markets Daily

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) announced its quarterly earnings results on Wednesday. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03, Briefing.com reports. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the business earned $5.69 earnings per share. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. Thermo Fisher Scientific updated its FY 2024 guidance to 21.350-22.070 EPS and its FY24 guidance to $21.35-$22.07 EPS.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $3.00 during trading on Friday, reaching $554.38. The company’s stock had a trading volume of 1,086,281 shares, compared to its average volume of 1,467,407. Thermo Fisher Scientific has a 12 month low of $420.21 and a 12 month high of $627.88. The firm has a 50 day moving average price of $606.12 and a 200 day moving average price of $584.21. The firm has a market capitalization of $211.77 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TMO shares. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Bernstein Bank raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Read Our Latest Research Report on Thermo Fisher Scientific

Insider Activity

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

Thermo Fisher Scientific Company Profile

(Get Free Report)

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.

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