Zacks Research Brokers Decrease Earnings Estimates for TMO

Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) - Investment analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Thermo Fisher Scientific in a report released on Tuesday, November 12th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $21.52 per share for the year, down from their previous forecast of $21.66. The consensus estimate for Thermo Fisher Scientific's current full-year earnings is $21.69 per share. Zacks Research also issued estimates for Thermo Fisher Scientific's FY2025 earnings at $23.09 EPS and FY2026 earnings at $26.31 EPS.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.69 EPS.

Several other brokerages have also recently weighed in on TMO. UBS Group raised shares of Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Morgan Stanley upped their price target 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, Sanford C. Bernstein dropped their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $649.33.

Thermo Fisher Scientific Trading Down 3.7 %

Shares of TMO stock traded down $19.94 during mid-day trading on Friday, reaching $513.08. 3,953,002 shares of the stock traded hands, compared to its average volume of 1,474,214. The stock's fifty day simple moving average is $588.39 and its two-hundred day simple moving average is $582.69. Thermo Fisher Scientific has a 1-year low of $464.17 and a 1-year high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market cap of $196.25 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79.

Hedge Funds Weigh In On Thermo Fisher Scientific

Several hedge funds have recently made changes to their positions in TMO. Cedar Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company's stock valued at $78,000 after buying an additional 17 shares during the period. Beaumont Financial Advisors LLC increased its holdings in Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company's stock worth $1,278,000 after acquiring an additional 17 shares during the period. Lafayette Investments Inc. lifted its stake in Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company's stock worth $459,000 after purchasing an additional 17 shares in the last quarter. IFG Advisors LLC boosted its holdings in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company's stock valued at $329,000 after purchasing an additional 17 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company's stock worth $570,000 after purchasing an additional 18 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. The trade was a 38.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.78%.

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.