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

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $21.14-22.02 for the period, compared to the consensus earnings per share 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.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded up $3.03 during trading on Wednesday, reaching $577.62. The company's stock had a trading volume of 2,034,882 shares, compared to its average volume of 1,567,231. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The firm has a market cap of $220.48 billion, a PE ratio of 37.39, a P/E/G ratio of 2.31 and a beta of 0.80. The company has a 50-day moving average price of $572.61 and a two-hundred day moving average price of $529.06. Thermo Fisher Scientific has a fifty-two week low of $415.60 and a fifty-two week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, topping the consensus estimate of $5.64 by $0.03. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The business had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. During the same period in the previous year, the firm earned $5.40 EPS. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific will post 21.51 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.39 dividend. 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 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific's payout ratio is currently 10.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on TMO. Citigroup began coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a neutral rating and a $620.00 price objective on the stock. Raymond James upped their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an outperform rating in a report on Thursday, February 1st. Royal Bank of Canada upped their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an outperform rating in a report on Thursday, February 1st. Sanford C. Bernstein restated a market perform rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Barclays lowered shares of Thermo Fisher Scientific from an overweight rating to an equal weight rating and upped their target price for the company from $475.00 to $555.00 in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $604.69.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company's stock, valued at $74,039,491.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 5,547 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the completion of the transaction, the chief executive officer now directly owns 43,608 shares in the company, valued at approximately $24,011,436.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company's stock, valued at $74,039,491.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,277 shares of company stock valued at $28,513,384. 0.32% of the stock is currently owned by corporate insiders.

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.