Equities Analysts Set Expectations for Thermo Fisher Scientific Inc.’s Q4 2020 Earnings (NYSE:TMO)

Equities Analysts Set Expectations for Thermo Fisher Scientific Inc.’s Q4 2020 Earnings (NYSE:TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) – Analysts at Svb Leerink upped their Q4 2020 earnings per share estimates for Thermo Fisher Scientific in a report released on Thursday, January 30th. Svb Leerink analyst P. Souda now expects that the medical research company will earn $3.93 per share for the quarter, up from their prior forecast of $3.83. Svb Leerink also issued estimates for Thermo Fisher Scientific’s Q1 2021 earnings at $3.42 EPS, Q2 2021 earnings at $3.74 EPS, Q3 2021 earnings at $3.85 EPS and Q4 2021 earnings at $4.37 EPS.

Other research analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $319.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus started coverage on shares of Thermo Fisher Scientific in a research note on Thursday, November 14th. They issued a “buy” rating and a $345.00 price objective for the company. Wells Fargo & Co reduced their price objective on shares of Thermo Fisher Scientific from $350.00 to $345.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Credit Suisse Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, January 22nd. They set a “neutral” rating and a $341.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $335.20.

Shares of NYSE TMO opened at $325.96 on Monday. The firm’s 50 day moving average price is $328.17 and its 200-day moving average price is $301.46. The company has a market cap of $125.59 billion, a PE ratio of 35.55, a P/E/G ratio of 1.84 and a beta of 1.14. Thermo Fisher Scientific has a 52-week low of $240.90 and a 52-week high of $342.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.37 and a current ratio of 1.91.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.01. Thermo Fisher Scientific had a net margin of 14.47% and a return on equity of 17.24%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.78 billion. During the same quarter in the previous year, the company earned $3.25 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 5.0% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Thermo Fisher Scientific by 1.4% in the second quarter. BlackRock Inc. now owns 27,643,905 shares of the medical research company’s stock valued at $8,118,461,000 after buying an additional 392,227 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Thermo Fisher Scientific by 0.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,697,748 shares of the medical research company’s stock valued at $551,547,000 after purchasing an additional 13,801 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Thermo Fisher Scientific by 3.3% in the third quarter. Parametric Portfolio Associates LLC now owns 1,203,808 shares of the medical research company’s stock valued at $350,633,000 after purchasing an additional 37,955 shares during the last quarter. California Public Employees Retirement System increased its stake in Thermo Fisher Scientific by 5.8% in the fourth quarter. California Public Employees Retirement System now owns 945,619 shares of the medical research company’s stock valued at $307,203,000 after purchasing an additional 52,064 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Thermo Fisher Scientific by 1.0% in the third quarter. California State Teachers Retirement System now owns 721,001 shares of the medical research company’s stock valued at $210,006,000 after purchasing an additional 6,824 shares during the last quarter. 88.33% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.76 annualized dividend and a dividend yield of 0.23%. Thermo Fisher Scientific’s payout ratio is 6.15%.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback plan on Friday, November 8th that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Thermo Fisher Scientific

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.

Share:
Scroll Up
error: Content is protected !!