Thermo Fisher Scientific (TMO) Scheduled to Post Quarterly Earnings on Wednesday

Thermo Fisher Scientific (NYSE:TMO) is set to post 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 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 data 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. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 EPS. 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

Shares of TMO stock opened at $595.35 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company has a fifty day moving average price of $607.91 and a two-hundred day moving average price of $584.40. The stock has a market cap of $227.42 billion, a P/E ratio of 36.93, a P/E/G ratio of 3.85 and a beta of 0.77. Thermo Fisher Scientific has a one year low of $415.60 and a one year high of $627.88.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on 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 directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was 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 $76,420,473.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TMO shares. Stephens assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Raymond James upped their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Finally, Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four research 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. Based on data from MarketBeat, the stock presently 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.