What is Zacks Research’s Estimate for TMO FY2024 Earnings?

Thermo Fisher Scientific Inc. (NYSE:TMO) – Research analysts at Zacks Research cut their FY2024 EPS estimates for shares of Thermo Fisher Scientific in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst R. Department now forecasts that the medical research company will post earnings per share of $21.52 for the year, down from their prior 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.

Several other equities research analysts have also commented on TMO. Barclays cut their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein cut their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Performance

TMO opened at $513.08 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a fifty day moving average price of $588.39 and a 200 day moving average price of $582.69. Thermo Fisher Scientific has a 1 year low of $464.17 and a 1 year high of $627.88. The stock has a market cap of $196.25 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.58 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the business posted $5.69 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year.

Institutional Investors Weigh In On Thermo Fisher Scientific

Institutional investors have recently made changes to their positions in the stock. BDF Gestion purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $6,368,000. Nisa Investment Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 6.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $1,161,000. Simplify Asset Management Inc. boosted its position in shares of Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after buying an additional 5,546 shares in the last quarter. Finally, ORG Partners LLC boosted its position in shares of Thermo Fisher Scientific by 216.6% in the 2nd quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock worth $890,000 after buying an additional 1,122 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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.