Adjusted EPS for Q2 rose 13% and beat analyst expectations
Company repurchased $1 bln of stock during the quarter
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$11.99 bln
$11.70 bln (20 Analysts)
Q2 Adjusted EPS
Beat
$6.03
$5.71 (21 Analysts)
Q2 EPS
$4.68
Q2 Adjusted Net Income
Beat
$2.24 bln
$2.13 bln (15 Analysts)
Result drivers
New product launches - Co said revenue growth was supported by the launch of new products, including next-generation mass spectrometry platforms and PCR systems
Stronger end markets - Co said customer activity across its end markets continued to strengthen, supporting revenue growth
Strategic collaborations - Co said partnerships, such as with Precision Health Research Singapore, contributed to growth in precision medicine and biopharma services
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 26 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for Thermo Fisher Scientific Inc is $610.00, about 15.9% above its July 22 closing price of $526.46
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago
TMO•
