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Thermo Fisher Scientific (TMO) Rises Higher Than Market: Key Facts
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The most recent trading session ended with Thermo Fisher Scientific (TMO - Free Report) standing at $544.42, reflecting a +0.96% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.88%. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Shares of the maker of scientific instrument and laboratory supplies have appreciated by 3.82% over the course of the past month, outperforming the Medical sector's gain of 3.45% and the S&P 500's gain of 0.64%.
Investors will be eagerly watching for the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 31, 2024. The company's upcoming EPS is projected at $5.64, signifying a 4.44% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.74 billion, down 6.24% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Thermo Fisher Scientific. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. Thermo Fisher Scientific presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 24.77. For comparison, its industry has an average Forward P/E of 25.36, which means Thermo Fisher Scientific is trading at a discount to the group.
Investors should also note that TMO has a PEG ratio of 3.24 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 155, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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) Rises Higher Than Market: Key Facts
The most recent trading session ended with Thermo Fisher Scientific (TMO - Free Report) standing at $544.42, reflecting a +0.96% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.88%. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Shares of the maker of scientific instrument and laboratory supplies have appreciated by 3.82% over the course of the past month, outperforming the Medical sector's gain of 3.45% and the S&P 500's gain of 0.64%.
Investors will be eagerly watching for the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 31, 2024. The company's upcoming EPS is projected at $5.64, signifying a 4.44% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.74 billion, down 6.24% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Thermo Fisher Scientific. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. Thermo Fisher Scientific presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 24.77. For comparison, its industry has an average Forward P/E of 25.36, which means Thermo Fisher Scientific is trading at a discount to the group.
Investors should also note that TMO has a PEG ratio of 3.24 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 155, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.