Thermo Fisher Scientific Inc (NYSE:TMO) reported better-than-expected earnings for the third quarter on Wednesday.
The company posted quarterly earnings of $5.79 per share which beat the analyst consensus estimate of $5.49 per share. The company reported quarterly sales of $11.122 billion which beat the analyst consensus estimate of $10.908 billion.
“Our team did an outstanding job and delivered excellent operational performance in the quarter, reflecting the strength of our proven growth strategy, the power of our PPI Business System, and the continued active management of our company,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. “I’m also very pleased with the progress we made executing our strategy – launching outstanding new products, completing complementary acquisitions, and collaborating with OpenAI to accelerate scientific advancement.”
Thermo Fisher Scientific shares rose 0.1% to close at $567.20 on Wednesday.
These analysts made changes to their price targets on Thermo Fisher Scientific following earnings announcement.
- Citigroup analyst Patrick Donnelly maintained Thermo Fisher Scientific with a Neutral and raised the price target from $500 to $580.
- Barclays analyst Luke Sergott maintained Thermo Fisher Scientific with an Overweight rating and raised the price target from $585 to $625.
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