Thermo Fisher Scientific (TMO) Set to Announce Quarterly 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.Parties that are interested in registering for the company’s conference call can do so using this link.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the firm earned $5.15 EPS. The firm’s quarterly revenue 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 Trading Down 1.1 %

NYSE TMO opened at $595.35 on Tuesday. The firm’s 50 day moving average price is $607.91 and its two-hundred day moving average price is $584.40. The stock has a market cap of $227.42 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a twelve month low of $415.60 and a twelve month 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.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMO. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stephens started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Evercore ISI upped their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.16.

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.