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Based in Waltham, Massachusetts, Thermo Fisher Scientific Inc. (TMO) is a global leader in serving science, providing innovative technologies, consumables, and services for healthcare, life sciences, and other applied markets. With a market cap of $204.71 billion, TMO is renowned for its comprehensive product portfolio that enhances scientific research, clinical diagnostics, and laboratory operations. The company is set to announce its fiscal Q2 earnings results before the market opens on Wednesday, Jul. 24.
Ahead of the event, analysts expect TMO to report a profit of $5.13 per share, down marginally from $5.15 per share in the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in three and missed on another occasion.
Its adjusted earnings of $5.11 per share for the last reported quarter surpassed the consensus estimate by 8.7%. Thermo Fisher's Q1 results were supported by strong commercial execution and operational discipline.
For fiscal 2024, analysts expect TMO to report EPS of $21.65, up marginally from $21.55 in fiscal 2023.
TMO stock has gained marginally on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.9% gains and the Health Care Select Sector SPDR Fund’s (XLV) 6.3% returns over the same time frame.
Thermo Fisher’s shares rose on Apr. 24 following the company's Q1 earnings. The company raised its annual profit forecast, indicating confidence in its future performance.
The consensus opinion on TMO stock is bullish, with an overall “Strong Buy” rating. Out of 19 analysts covering the stock, 12 advise a “Strong Buy” rating, three suggest a “Moderate Buy” rating, and four recommend a “Hold.”
This configuration is slightly bullish compared to three months ago when the stock had 10 “Strong Buy” ratings. TMO's average analyst price target is $627.55, indicating a potential upside of 18% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
