Q2 2024 Earnings Forecast for Thermo Fisher Scientific Inc. Issued By Leerink Partnrs (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Equities researchers at Leerink Partnrs lowered their Q2 2024 EPS estimates for shares of Thermo Fisher Scientific in a report issued on Wednesday, April 24th. Leerink Partnrs analyst P. Souda now expects that the medical research company will earn $5.19 per share for the quarter, down from their prior estimate of $5.20. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.54 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q3 2024 earnings at $5.46 EPS, Q4 2024 earnings at $5.99 EPS, FY2024 earnings at $21.75 EPS, Q1 2025 earnings at $5.62 EPS, Q2 2025 earnings at $5.88 EPS, Q3 2025 earnings at $6.12 EPS, Q4 2025 earnings at $6.63 EPS, FY2025 earnings at $24.26 EPS and FY2026 earnings at $26.94 EPS.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%.

Several other analysts also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. HSBC increased their price target on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Barclays increased their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $606.76.

Thermo Fisher Scientific Stock Up 0.3 %

TMO stock opened at $573.60 on Friday. The firm’s fifty day simple moving average is $573.60 and its 200-day simple moving average is $530.14. The company has a market capitalization of $218.95 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $603.82.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.39 dividend. This is an increase 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%. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $74,039,491.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,277 shares of company stock valued at $28,513,384. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Thermo Fisher Scientific

Institutional investors have recently bought and sold shares of the company. Northwest Financial Advisors acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $29,000. True Wealth Design LLC increased its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific during the first quarter valued at about $31,000. Pineridge Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $39,000. Finally, Cape Investment Advisory Inc. increased its position in shares of Thermo Fisher Scientific by 52.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 26 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.