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Thermo Fisher Scientific (TMO) Laps the Stock Market: Here's Why
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Thermo Fisher Scientific (TMO - Free Report) closed at $553.39 in the latest trading session, marking a +0.3% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
The maker of scientific instrument and laboratory supplies's stock has climbed by 4.29% in the past month, exceeding the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. On that day, Thermo Fisher Scientific is projected to report earnings of $5.64 per share, which would represent year-over-year growth of 4.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.74 billion, down 6.24% from the year-ago period.
Any recent changes to analyst estimates for Thermo Fisher Scientific should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 moved 0.03% lower. Right now, Thermo Fisher Scientific possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Thermo Fisher Scientific is currently being traded at a Forward P/E ratio of 25.35. This valuation marks a discount compared to its industry's average Forward P/E of 26.05.
Meanwhile, TMO's PEG ratio is currently 3.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Instruments industry currently had an average PEG ratio of 2.44 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 111, placing it within the top 45% of over 250 industries.
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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.
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Thermo Fisher Scientific (TMO) Laps the Stock Market: Here's Why
Thermo Fisher Scientific (TMO - Free Report) closed at $553.39 in the latest trading session, marking a +0.3% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
The maker of scientific instrument and laboratory supplies's stock has climbed by 4.29% in the past month, exceeding the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. On that day, Thermo Fisher Scientific is projected to report earnings of $5.64 per share, which would represent year-over-year growth of 4.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.74 billion, down 6.24% from the year-ago period.
Any recent changes to analyst estimates for Thermo Fisher Scientific should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 moved 0.03% lower. Right now, Thermo Fisher Scientific possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Thermo Fisher Scientific is currently being traded at a Forward P/E ratio of 25.35. This valuation marks a discount compared to its industry's average Forward P/E of 26.05.
Meanwhile, TMO's PEG ratio is currently 3.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Instruments industry currently had an average PEG ratio of 2.44 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 111, placing it within the top 45% of over 250 industries.
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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.