Thermo Fisher Scientific Inc. (NYSE:TMO) – Equities research analysts at Jefferies Financial Group upped their Q3 2019 earnings per share (EPS) estimates for shares of Thermo Fisher Scientific in a report issued on Monday, August 12th. Jefferies Financial Group analyst B. Couillard now forecasts that the medical research company will earn $2.89 per share for the quarter, up from their prior forecast of $2.88. Jefferies Financial Group also issued estimates for Thermo Fisher Scientific’s FY2019 earnings at $12.23 EPS, Q1 2020 earnings at $3.07 EPS, Q2 2020 earnings at $3.35 EPS, Q3 2020 earnings at $3.25 EPS and Q4 2020 earnings at $3.89 EPS.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.03. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share.
A number of other brokerages have also recently commented on TMO. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 target price for the company in a research report on Wednesday, June 12th. Barclays set a $330.00 price objective on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. Wolfe Research initiated coverage on shares of Thermo Fisher Scientific in a report on Thursday, May 30th. They issued an “outperform” rating for the company. UBS Group upped their price objective on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC upped their price objective on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $303.17.
Shares of NYSE TMO opened at $273.31 on Wednesday. The firm has a 50-day simple moving average of $287.33 and a 200-day simple moving average of $272.12. The stock has a market capitalization of $108.93 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Thermo Fisher Scientific has a 52 week low of $208.34 and a 52 week high of $305.45.
A number of hedge funds have recently made changes to their positions in TMO. FMR LLC boosted its stake in Thermo Fisher Scientific by 33.5% during the first quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock worth $3,167,647,000 after buying an additional 2,900,868 shares during the period. Nuveen Asset Management LLC boosted its stake in Thermo Fisher Scientific by 10,824.0% during the second quarter. Nuveen Asset Management LLC now owns 1,928,966 shares of the medical research company’s stock worth $566,498,000 after buying an additional 1,911,308 shares during the period. BlackRock Inc. boosted its stake in Thermo Fisher Scientific by 4.1% during the first quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock worth $7,459,327,000 after buying an additional 1,074,400 shares during the period. Jennison Associates LLC boosted its stake in Thermo Fisher Scientific by 2,589.9% during the second quarter. Jennison Associates LLC now owns 819,138 shares of the medical research company’s stock worth $240,564,000 after buying an additional 788,686 shares during the period. Finally, Putnam Investments LLC boosted its stake in Thermo Fisher Scientific by 2,645.9% during the second quarter. Putnam Investments LLC now owns 720,795 shares of the medical research company’s stock worth $211,683,000 after buying an additional 694,545 shares during the period. 88.21% of the stock is owned by institutional investors.
In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the completion of the transaction, the chief financial officer now owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Martin Harris sold 275 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total transaction of $74,450.75. Following the transaction, the director now directly owns 6,433 shares of the company’s stock, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. Insiders sold 52,775 shares of company stock valued at $14,986,676 in the last three months. 0.45% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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