$4.91 Billion in Sales Expected for Thermo Fisher Scientific Inc (TMO) This Quarter
Wall Street analysts expect Thermo Fisher Scientific Inc (NYSE:TMO) to announce $4.91 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Thermo Fisher Scientific’s earnings, with estimates ranging from $4.89 billion to $4.94 billion. Thermo Fisher Scientific posted sales of $4.54 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The firm is expected to issue its next quarterly earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Thermo Fisher Scientific will report full year sales of $4.91 billion for the current financial year, with estimates ranging from $19.61 billion to $19.71 billion. For the next financial year, analysts expect that the business will post sales of $20.56 billion per share, with estimates ranging from $20.47 billion to $20.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Thermo Fisher Scientific.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 26th. The medical research company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.02 by $0.06. Thermo Fisher Scientific had a return on equity of 15.73% and a net margin of 11.58%. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 10.9% compared to the same quarter last year.
Several research firms have recently commented on TMO. Jefferies Group LLC lifted their price target on shares of Thermo Fisher Scientific from $160.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 28th. Deutsche Bank AG set a $200.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Saturday, June 10th. Bank of America Corporation upped their price target on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BTIG Research upped their price target on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, Leerink Swann set a $187.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $183.47.
Thermo Fisher Scientific (NYSE:TMO) traded down 0.11% during trading on Wednesday, reaching $175.47. 250,572 shares of the company’s stock traded hands. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $176.92. The stock has a market capitalization of $68.65 billion, a P/E ratio of 32.01 and a beta of 1.05. The stock has a 50-day moving average price of $172.96 and a 200 day moving average price of $157.13.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.95%.
In other news, insider Thomas W. Loewald sold 1,532 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $168.76, for a total transaction of $258,540.32. Following the sale, the insider now owns 41,277 shares in the company, valued at $6,965,906.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $176.26, for a total transaction of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares in the company, valued at approximately $6,660,865.40. The disclosure for this sale can be found here. Insiders have sold 28,720 shares of company stock worth $4,960,764 in the last 90 days. 0.49% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in TMO. BlackRock Inc. raised its stake in Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after buying an additional 22,165,530 shares in the last quarter. Norges Bank purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth about $534,860,000. Glenview Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth about $516,388,000. C WorldWide Group Holding A S raised its stake in Thermo Fisher Scientific by 997.1% in the first quarter. C WorldWide Group Holding A S now owns 1,950,049 shares of the medical research company’s stock worth $299,527,000 after buying an additional 1,772,300 shares in the last quarter. Finally, Veritas Asset Management LLP purchased a new stake in Thermo Fisher Scientific during the first quarter worth about $175,795,000. Institutional investors and hedge funds own 86.94% of the company’s stock.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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