Thermo Fisher Scientific (TMO) Stock

One of TMO's recent important purchases that could boost its growth in the future is the $3.1 billion acquisition of Olink Holdings.

Thermo Fisher Scientific Inc. (NYSE:TMO) will hold the Wolfe 2024 Healthcare Results Conference on November 19, 2024, at 8:00 AM ET. The company will be represented by Marc Casper, who is the Chairman, President, and CEO. Doug Schenkel from Wolfe Research will also be participating in the conference call.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), a global leader in scientific services, has announced that its Board of Directors has approved a plan to buy back $4 billion worth of its common stock either in the open market or through negotiated deals. This new authorization does not have an expiration date and replaces the previous plan, which had $1 billion left. About Thermo Fisher Scientific: Thermo Fisher Scientific Inc. is a leading company in its field.

Thermo Fisher Scientific is expected to grow well as the challenges from COVID-19 lessen, and as the Chinese and biotech markets improve along with better funding conditions. The company's profit margins are likely to increase thanks to higher sales volumes, cost-saving measures, benefits from mergers and acquisitions, and a positive pricing mix as organic growth picks up. Additionally, TMO's current valuation is appealing, as it is priced lower than its historical averages and competitors like Danaher, indicating a chance for an increase in its price-to-earnings ratio.

Look into how Thermo Fisher's (TMO) income from global markets is evolving and how this affects Wall Street's forecasts and the future of the stock.

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.