We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Thermo Fisher Scientific (TMO) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Thermo Fisher Scientific (TMO - Free Report) closed at $531.23 in the latest trading session, marking a -1.14% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
Coming into today, shares of the maker of scientific instrument and laboratory supplies had gained 8.76% in the past month. In that same time, the Medical sector gained 6.12%, while the S&P 500 gained 2.75%.
The investment community will be closely monitoring the performance of Thermo Fisher Scientific in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. It is anticipated that the company will report an EPS of $5.64, marking a 4.44% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $10.74 billion, showing a 6.24% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Thermo Fisher Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. As of now, Thermo Fisher Scientific holds a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Thermo Fisher Scientific has a Forward P/E ratio of 24.68 right now. This valuation marks a discount compared to its industry's average Forward P/E of 25.55.
It is also worth noting that TMO currently has a PEG ratio of 3.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.37.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Thermo Fisher Scientific (TMO) Stock Drops Despite Market Gains: Important Facts to Note
Thermo Fisher Scientific (TMO - Free Report) closed at $531.23 in the latest trading session, marking a -1.14% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
Coming into today, shares of the maker of scientific instrument and laboratory supplies had gained 8.76% in the past month. In that same time, the Medical sector gained 6.12%, while the S&P 500 gained 2.75%.
The investment community will be closely monitoring the performance of Thermo Fisher Scientific in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. It is anticipated that the company will report an EPS of $5.64, marking a 4.44% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $10.74 billion, showing a 6.24% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Thermo Fisher Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. As of now, Thermo Fisher Scientific holds a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Thermo Fisher Scientific has a Forward P/E ratio of 24.68 right now. This valuation marks a discount compared to its industry's average Forward P/E of 25.55.
It is also worth noting that TMO currently has a PEG ratio of 3.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.37.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.