Q2 2024 Earnings Forecast for Thermo Fisher Scientific Inc. Issued By Leerink Partnrs (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Stock analysts at Leerink Partnrs reduced their Q2 2024 earnings estimates for shares of Thermo Fisher Scientific in a research note issued on Wednesday, April 24th. Leerink Partnrs analyst P. Souda now expects that the medical research company will earn $5.19 per share for the quarter, down from their prior estimate of $5.20. The consensus estimate for Thermo Fisher Scientific’s current full-year earnings is $21.54 per share. Leerink Partnrs also issued estimates for Thermo Fisher Scientific’s Q3 2024 earnings at $5.46 EPS, Q4 2024 earnings at $5.99 EPS, FY2024 earnings at $21.75 EPS, Q1 2025 earnings at $5.62 EPS, Q2 2025 earnings at $5.88 EPS, Q3 2025 earnings at $6.12 EPS, Q4 2025 earnings at $6.63 EPS, FY2025 earnings at $24.26 EPS and FY2026 earnings at $26.94 EPS.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%.

Several other research analysts have also weighed in on TMO. Barclays increased their price objective on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI increased their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price objective 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, Royal Bank of Canada increased their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.76.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $573.60 on Friday. The firm has a market cap of $218.95 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific has a 12-month low of $415.60 and a 12-month high of $603.82. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $573.60 and its two-hundred day moving average is $530.14.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of hedge funds have recently added to or reduced their stakes in TMO. Strategic Blueprint LLC boosted its holdings in Thermo Fisher Scientific by 7.8% in the third quarter. Strategic Blueprint LLC now owns 1,124 shares of the medical research company’s stock worth $569,000 after purchasing an additional 81 shares during the period. L. Roy Papp & Associates LLP boosted its holdings in Thermo Fisher Scientific by 1.1% in the third quarter. L. Roy Papp & Associates LLP now owns 49,965 shares of the medical research company’s stock worth $25,291,000 after purchasing an additional 548 shares during the period. Asset Management One Co. Ltd. lifted its stake in Thermo Fisher Scientific by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 183,281 shares of the medical research company’s stock valued at $92,771,000 after buying an additional 3,730 shares during the last quarter. WestEnd Advisors LLC lifted its stake in Thermo Fisher Scientific by 8.7% in the third quarter. WestEnd Advisors LLC now owns 63,740 shares of the medical research company’s stock valued at $32,263,000 after buying an additional 5,111 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC lifted its stake in Thermo Fisher Scientific by 0.8% in the third quarter. Birch Hill Investment Advisors LLC now owns 8,020 shares of the medical research company’s stock valued at $4,059,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $27,311,992.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders sold 50,277 shares of company stock valued at $28,513,384 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.