$5.03 Billion in Sales Expected for Thermo Fisher Scientific Inc (TMO) This Quarter
Analysts forecast that Thermo Fisher Scientific Inc (NYSE:TMO) will report $5.03 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Thermo Fisher Scientific’s earnings. The highest sales estimate is $5.08 billion and the lowest is $5.01 billion. Thermo Fisher Scientific posted sales of $4.49 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Thermo Fisher Scientific will report full year sales of $5.03 billion for the current financial year, with estimates ranging from $20.33 billion to $20.60 billion. For the next year, analysts anticipate that the firm will post sales of $22.84 billion per share, with estimates ranging from $22.60 billion to $22.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Thermo Fisher Scientific.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis.
A number of research firms have commented on TMO. Jefferies Group LLC reiterated a “hold” rating and issued a $195.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, September 28th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub lowered Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Leerink Swann upped their price target on Thermo Fisher Scientific from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Monday, October 9th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $200.00 price target (up previously from $190.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 17th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and a consensus price target of $203.64.
Thermo Fisher Scientific (NYSE TMO) opened at 189.22 on Thursday. The firm has a 50-day moving average price of $190.20 and a 200 day moving average price of $176.17. The firm has a market cap of $73.82 billion, a price-to-earnings ratio of 32.97 and a beta of 1.05. Thermo Fisher Scientific has a 1-year low of $139.07 and a 1-year high of $194.30.
In related news, VP Peter E. Hornstra sold 3,894 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total transaction of $721,090.92. Following the transaction, the vice president now directly owns 19,751 shares of the company’s stock, valued at approximately $3,657,490.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Seth H. Hoogasian sold 4,140 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $177.80, for a total value of $736,092.00. Following the transaction, the vice president now directly owns 25,518 shares in the company, valued at $4,537,100.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,738 shares of company stock worth $9,302,112. 0.49% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Sharkey Howes & Javer raised its stake in Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock worth $113,000 after buying an additional 7 shares during the period. Beacon Trust Co. raised its stake in Thermo Fisher Scientific by 0.6% during the 1st quarter. Beacon Trust Co. now owns 2,159 shares of the medical research company’s stock worth $341,000 after buying an additional 12 shares during the period. Reinhart Partners Inc. raised its stake in Thermo Fisher Scientific by 0.6% during the 2nd quarter. Reinhart Partners Inc. now owns 3,430 shares of the medical research company’s stock worth $598,000 after buying an additional 20 shares during the period. Covington Capital Management raised its stake in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Covington Capital Management now owns 2,144 shares of the medical research company’s stock worth $374,000 after buying an additional 20 shares during the period. Finally, Investment Centers of America Inc. raised its stake in Thermo Fisher Scientific by 1.6% during the 2nd quarter. Investment Centers of America Inc. now owns 1,317 shares of the medical research company’s stock worth $230,000 after buying an additional 21 shares during the period. 83.32% of the stock is currently owned by institutional investors and hedge funds.
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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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