Thermo Fisher Scientific (NYSE:TMO) Issues Quarterly Earnings Results

Key Points

• Thermo Fisher Scientific reported earnings of $5.79 per share for the quarter, surpassing expectations by $0.29, and achieved a revenue of $11.12 billion, exceeding analyst estimates.
• The company experienced a 4.9% increase in revenue compared to the same quarter last year, highlighting continued growth.
• Insiders have sold a total of 30,066 shares worth over $14 million in the last 90 days, indicating some fluctuation in insider holdings.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) released its quarterly earnings data on Wednesday. The medical research company reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.29, Zacks reports. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The company's revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $5.28 EPS.

Thermo Fisher Scientific Price Performance

TMO opened at $559.48 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The company's 50-day moving average price is $499.00 and its 200 day moving average price is $450.49. Thermo Fisher Scientific has a fifty-two week low of $385.46 and a fifty-two week high of $610.97. The firm has a market cap of $211.27 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $500.96, for a total value of $5,009,600.00. Following the sale, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $57,697,567.04. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,066 shares of company stock worth $14,182,963 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Thermo Fisher Scientific

Several hedge funds have recently added to or reduced their stakes in the business. Unisphere Establishment grew its stake in shares of Thermo Fisher Scientific by 5.6% in the second quarter. Unisphere Establishment now owns 2,060,000 shares of the medical research company's stock worth $835,248,000 after purchasing an additional 110,000 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Thermo Fisher Scientific by 89.1% in the second quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company's stock worth $720,576,000 after purchasing an additional 825,649 shares during the period. Raymond James Financial Inc. grew its position in Thermo Fisher Scientific by 7.4% in the 2nd quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company's stock valued at $315,781,000 after buying an additional 53,542 shares in the last quarter. California State Teachers Retirement System increased its stake in Thermo Fisher Scientific by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company's stock valued at $244,099,000 after buying an additional 2,262 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Thermo Fisher Scientific by 10.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 528,654 shares of the medical research company's stock worth $214,630,000 after acquiring an additional 51,692 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Royal Bank Of Canada set a $561.00 target price on shares of Thermo Fisher Scientific and gave the company an "outperform" rating in a report on Tuesday, September 2nd. William Blair initiated coverage on Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an "outperform" rating on the stock. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research report on Friday, July 11th. Finally, Barclays boosted their price target on Thermo Fisher Scientific from $550.00 to $585.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Fifteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $581.72.

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.

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