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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
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In the latest trading session, Thermo Fisher Scientific (TMO - Free Report) closed at $553.18, marking a +0.45% move from the previous day. This change outpaced the S&P 500's 0.4% loss on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 4.72%.
Heading into today, shares of the maker of scientific instrument and laboratory supplies had lost 1.17% over the past month, outpacing the Medical sector's loss of 2.63% and the S&P 500's loss of 5.57% in that time.
Thermo Fisher Scientific will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.19, down 20.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.36 billion, down 3.21% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Thermo Fisher Scientific is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Thermo Fisher Scientific is currently trading at a Forward P/E ratio of 23.9. This represents a discount compared to its industry's average Forward P/E of 30.46.
We can also see that TMO currently has a PEG ratio of 1.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments was holding an average PEG ratio of 2.16 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.
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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
In the latest trading session, Thermo Fisher Scientific (TMO - Free Report) closed at $553.18, marking a +0.45% move from the previous day. This change outpaced the S&P 500's 0.4% loss on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 4.72%.
Heading into today, shares of the maker of scientific instrument and laboratory supplies had lost 1.17% over the past month, outpacing the Medical sector's loss of 2.63% and the S&P 500's loss of 5.57% in that time.
Thermo Fisher Scientific will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.19, down 20.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.36 billion, down 3.21% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Thermo Fisher Scientific is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Thermo Fisher Scientific is currently trading at a Forward P/E ratio of 23.9. This represents a discount compared to its industry's average Forward P/E of 30.46.
We can also see that TMO currently has a PEG ratio of 1.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments was holding an average PEG ratio of 2.16 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.