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

Thermo Fisher Scientific (NYSE:TMO) issued its quarterly earnings data on Thursday. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12, FiscalAI reports. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.Thermo Fisher Scientific’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.10 earnings per share.

Here are the key takeaways from Thermo Fisher Scientific’s conference call:

• We delivered a strong finish to 2025 with Q4 revenue of $12.21B (+7%) and adjusted EPS of $6.57 (+8%), full?year revenue $44.56B (+4%) and adjusted EPS $22.87 (+5%), and we initiated 2026 guidance of $46.3B–$47.2B revenue and $24.22–$24.80 adjusted EPS (6%–8% growth, 3%–4% organic).
• Aggressive capital deployment — ~ $16.5B deployed in 2025 (including ~$13B for M&A and $3.6B returned to shareholders); the announced Clario acquisition (~$9B) is expected to close mid?2026 and be materially accretive to EPS.
• Product and partnership momentum — multiple high?impact launches (Orbitrap Astral Zoom, Krios 5 Cryo?TEM, Helios MX1, EXENT 510(k), expanded single?use bioreactors) and strategic collaborations (Chan Zuckerberg Institute, OpenAI) aim to deepen customer ties and embed AI across products and operations.
• Policy and macro risks remain — tariffs and FX volatility were >100 basis points of margin headwind in 2025 and the 2026 guide assumes current tariffs only, while China and U.S. academic/government funding weakness pressured some segments.

Thermo Fisher Scientific Trading Down 2.1%

Shares of TMO stock traded down $12.20 during trading hours on Friday, reaching $579.96. The company’s stock had a trading volume of 775,917 shares, compared to its average volume of 2,540,346. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific has a one year low of $385.46 and a one year high of $643.99. The stock has a market capitalization of $217.90 billion, a P/E ratio of 33.56, a P/E/G ratio of 3.99 and a beta of 0.91. The firm’s fifty day simple moving average is $594.14 and its 200 day simple moving average is $536.01.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is 9.94%.

Key Headlines Impacting Thermo Fisher Scientific

Here are the key news stories impacting Thermo Fisher Scientific this week:

• Positive Sentiment: Beat on top and bottom line — Q4 revenue of $12.21B (+7% YoY) and adjusted EPS $6.57 topped estimates, driven by life-sciences tools and pharma client demand. This underpins near-term cash flow and validates execution. Business Wire: Q4 and Full Year 2025 Results
• Positive Sentiment: Analyst bullishness / buy thesis remains — some analysts and commentators call the pullback a buying opportunity and reiterate buy ratings and a higher target (e.g., $668), citing resilient margins and competitive positioning. Seeking Alpha: Rating Update — Pullback Is A Buy
• Neutral Sentiment: Corporate materials — the company published its Q4 earnings presentation and full call transcript for investors to review details on segment performance, backlog and product trends. Useful for modeling segment-level growth. Earnings Call Presentation
• Positive Sentiment: Potential M&A upside — management quantified how the Clario acquisition could add to EPS, signaling potential accretion from deals that could enhance services revenue. Benzinga: Clario Deal EPS Impact
• Negative Sentiment: Cautious FY-2026 guidance and margin commentary — management guided revenue to $46.3B–$47.2B and EPS $24.22–$24.80 (organic growth ~3–4%). The EPS midpoint is roughly in line but the tone on margins and modest organic growth spooked investors, prompting profit-taking. Reuters: Beats Q4, issues cautious 2026 outlook
• Negative Sentiment: Market reaction — several outlets note shares slid after the outlook update as investors focused on margin pressure and conservative profit guidance despite the beat. That selling is the proximate cause of today’s share weakness. MSN: Thermo Fisher slips after issuing 2026 outlook

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

TMO has been the subject of several research reports. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research report on Sunday, December 7th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Argus upped their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a report on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $631.32.

Insiders Place Their Bets

In other news, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the sale, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This represents a 20.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 124,517 shares of company stock worth $72,363,568. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several hedge funds have recently added to or reduced their stakes in TMO. JPL Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $28,000. Osterweis Capital Management Inc. grew its position in Thermo Fisher Scientific by 151.4% in the 3rd quarter. Osterweis Capital Management Inc. now owns 88 shares of the medical research company’s stock worth $43,000 after purchasing an additional 53 shares during the period. Wealth Watch Advisors INC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $44,000. Palisade Asset Management LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth $46,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Thermo Fisher Scientific during the third quarter valued at $53,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.