Thermo Fisher Scientific (TMO) to Release Earnings on Wednesday

Thermo Fisher Scientific (NYSE:TMO) will be posting its quarterly earnings results before the market opens on Wednesday, October 23rd. Analysts expect Thermo Fisher Scientific to post earnings of $5.25 per share for the quarter. Thermo Fisher Scientific has set its FY 2024 guidance at 21.290-22.070 EPS and its FY24 guidance at $21.29-22.07 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the business posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts expect Thermo Fisher Scientific to post $22 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Thermo Fisher Scientific Price Performance

TMO opened at $601.71 on Monday. The company has a fifty day simple moving average of $607.99 and a 200 day simple moving average of $584.23. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $229.85 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a 12 month low of $415.60 and a 12 month high of $627.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Bank of America lifted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $656.16.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

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.