Thermo Fisher ScientificNYSE: TMO

The main figures for Thermo Fisher (TMO) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare some important metrics with Wall Street predictions and the results from the same period last year.

I am raising my rating for Thermo Fisher Scientific Inc. to a "Buy" with a target price of $610 per share, as I expect a rebound in the pharmaceutical and biotech sectors. The company's significant innovations and strategic mergers and acquisitions, like the purchase of Olink, are likely to drive organic revenue growth of 7%-9% and mid-teens growth in earnings per share. The Q3 results indicate a stabilization in life sciences, and the company has increased its full-year adjusted EPS forecast while keeping its revenue guidance between $42.4 and $43.3 billion.

On Wednesday, Thermo Fisher Scientific increased the lower end of its yearly profit prediction for the third time this year, expecting better demand for its products and services used in drug development.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), a global leader in scientific services, has announced its financial results for the third quarter ending September 28, 2024. The company reported a revenue of $10.60 billion and a GAAP diluted earnings per share (EPS) of $4.25, with an adjusted EPS of $5.28. During this quarter, they continued to implement their successful growth strategy by introducing several innovative new products.

Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com has included the "Lab Consumables - Global Strategic Business Report" in its collection. The worldwide market for Lab Consumables is valued at US$12.7 Million in 2023 and is expected to grow to US$17.2 Million by 2030, with a compound annual growth rate (CAGR) of 4.5% during this period. This detailed report offers valuable insights into market trends, factors influencing growth, and future predictions to assist in making informed business choices.

Thermo Fisher's performance in the third quarter of 2024 is expected to be boosted by strong results in the Analytical Instrument and Specialty Diagnostics areas.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc., a leader in scientific services, unveiled an innovative transmission electron microscope at the European Microscopy Congress 2024 in Copenhagen, Denmark, where many people attended. The Thermo Scientific™ Iliad™ (Scanning) Transmission Electron Microscope, (S)TEM, is a complete analytical tool that helps researchers gain a better understanding of the chemical properties of advanced materials.

Thermo Fisher has done better than the market, achieving over a 420% return in the last ten years, but its current value is quite high. Recent results show a small drop in revenue, although earnings per share have improved and the company has raised its guidance for 2024. Even with good growth potential and favorable market conditions, the stock's high valuation and low dividend yield suggest it should be held for the time being.

According to FDA documents, one of the biggest contract drug manufacturing facilities in the U.S., owned by Thermo Fisher Scientific, has violated regulations designed to keep drugs uncontaminated multiple times in the last decade, including two incidents this year.