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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
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Thermo Fisher Scientific (TMO - Free Report) closed the most recent trading day at $546, moving +0.38% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.07% for the day.
Heading into today, shares of the maker of scientific instrument and laboratory supplies had gained 4.9% over the past month, lagging the Medical sector's gain of 7.37% and outpacing the S&P 500's gain of 3.98% in that time.
Market participants will be closely following the financial results of Thermo Fisher Scientific in its upcoming release. The company plans to announce its earnings on January 31, 2024. The company's earnings per share (EPS) are projected to be $5.64, reflecting a 4.44% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $10.74 billion, indicating a 6.24% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Thermo Fisher Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% decrease. Thermo Fisher Scientific is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Thermo Fisher Scientific has a Forward P/E ratio of 24.99 right now. This expresses a discount compared to the average Forward P/E of 27.14 of its industry.
We can additionally observe that TMO currently boasts a PEG ratio of 3.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Instruments was holding an average PEG ratio of 2.26 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.
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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
Thermo Fisher Scientific (TMO - Free Report) closed the most recent trading day at $546, moving +0.38% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.07% for the day.
Heading into today, shares of the maker of scientific instrument and laboratory supplies had gained 4.9% over the past month, lagging the Medical sector's gain of 7.37% and outpacing the S&P 500's gain of 3.98% in that time.
Market participants will be closely following the financial results of Thermo Fisher Scientific in its upcoming release. The company plans to announce its earnings on January 31, 2024. The company's earnings per share (EPS) are projected to be $5.64, reflecting a 4.44% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $10.74 billion, indicating a 6.24% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Thermo Fisher Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% decrease. Thermo Fisher Scientific is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Thermo Fisher Scientific has a Forward P/E ratio of 24.99 right now. This expresses a discount compared to the average Forward P/E of 27.14 of its industry.
We can additionally observe that TMO currently boasts a PEG ratio of 3.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Instruments was holding an average PEG ratio of 2.26 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.