Thermo Fisher Scientific (NYSE:TMO) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

Thermo Fisher Scientific (NYSE:TMO) released its quarterly earnings data on Wednesday. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41, reports. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific updated its FY 2024 guidance to 21.140-22.020 EPS and its FY24 guidance to $21.14-22.02 EPS.

Thermo Fisher Scientific Trading Up 0.3 %

NYSE TMO opened at $573.60 on Friday. The stock has a 50-day moving average of $573.60 and a 200-day moving average of $529.90. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific has a 1-year low of $415.60 and a 1-year high of $603.82. The firm has a market cap of $218.95 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis 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 10.01%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday. HSBC increased their target price on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. upped 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. Finally, Citigroup began coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective for the company. Five investment 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $606.76.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock valued at $28,513,384 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Thermo Fisher Scientific

Several institutional investors and hedge funds have recently modified their holdings of TMO. Northwest Financial Advisors purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. True Wealth Design LLC lifted its position in Thermo Fisher Scientific by 1,275.0% in the 4th 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 in the last quarter. LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $31,000. Pineridge Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $39,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after acquiring an additional 26 shares in 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.