Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) – Stock analysts at KeyCorp reduced their Q2 2023 EPS estimates for Thermo Fisher Scientific in a research report issued on Wednesday, May 24th. KeyCorp analyst P. Knight now forecasts that the medical research company will post earnings per share of $5.40 for the quarter, down from their previous forecast of $5.65. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $23.70 per share. KeyCorp also issued estimates for Thermo Fisher Scientific’s Q3 2023 earnings at $6.15 EPS and Q4 2023 earnings at $7.10 EPS.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $5.03. The company had revenue of $10.71 billion for the quarter, compared to analysts’ expectations of $10.67 billion. Thermo Fisher Scientific had a return on equity of 19.16% and a net margin of 13.75%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $7.25 EPS.
Thermo Fisher Scientific Price Performance
Shares of Thermo Fisher Scientific stock opened at $520.64 on Friday. Thermo Fisher Scientific has a 52 week low of $475.77 and a 52 week high of $611.06. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $553.32 and its two-hundred day moving average price is $554.74. The stock has a market cap of $200.82 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79.
Institutional Trading of Thermo Fisher Scientific
Large investors have recently made changes to their positions in the stock. Empower Advisory Group LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $2,087,000. Verity Asset Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 83.4% in the first quarter. Verity Asset Management Inc. now owns 820 shares of the medical research company’s stock worth $473,000 after buying an additional 373 shares during the last quarter. Old North State Trust LLC boosted its holdings in shares of Thermo Fisher Scientific by 2,157.8% during the 1st quarter. Old North State Trust LLC now owns 5,193 shares of the medical research company’s stock worth $133,000 after buying an additional 4,963 shares during the period. Toroso Investments LLC raised its holdings in Thermo Fisher Scientific by 2.5% in the 1st quarter. Toroso Investments LLC now owns 9,263 shares of the medical research company’s stock worth $5,339,000 after acquiring an additional 228 shares during the period. Finally, 3Chopt Investment Partners LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter worth $219,000. Institutional investors own 85.92% of the company’s stock.
Insider Activity
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $534.82, for a total value of $855,712.00. Following the transaction, the chief executive officer now owns 141,330 shares in the company, valued at $75,586,110.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Marc N. Casper sold 7,500 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 13th. The shares were sold at an average price of $544.49, for a total value of $4,083,675.00. Following the completion of the sale, the chief executive officer now owns 66,655 shares of the company’s stock, valued at approximately $36,292,980.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 1,600 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $534.82, for a total transaction of $855,712.00. Following the transaction, the chief executive officer now directly owns 141,330 shares in the company, valued at $75,586,110.60. The disclosure for this sale can be found here. Insiders have sold a total of 19,100 shares of company stock worth $10,391,587 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.
Thermo Fisher Scientific Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.13%.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Further Reading
- Get a free copy of the StockNews.com research report on Thermo Fisher Scientific (TMO)
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