Thermo Fisher Scientific (TMO) to Release Quarterly Earnings on Wednesday

Thermo Fisher Scientific (NYSE:TMO) will be announcing its earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce 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 that wish to register for the company’s conference call can do so using this link.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the business earned $5.15 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. 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 Stock Performance

NYSE TMO opened at $600.52 on Wednesday. Thermo Fisher Scientific has a 52-week low of $415.60 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The company has a market capitalization of $229.23 billion, a P/E ratio of 38.52, a P/E/G ratio of 3.80 and a beta of 0.77. The company has a fifty day moving average of $607.81 and a 200-day moving average of $583.76.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMO shares. Stephens began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Stifel Nicolaus boosted their price target 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. Robert W. Baird upped their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday. They issued a “buy” rating and a $680.00 target price on the stock. 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 stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $656.16.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,548,375.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 in the last three months. Insiders own 0.34% of the company’s stock.

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.