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Thermo Fisher sets quarterly dividend at $0.39 per share

Published 2024/11/08, 00:10
TMO
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WALTHAM, Mass. – Thermo Fisher Scientific Inc. (NYSE:TMO), a leading company in serving science, has declared a quarterly cash dividend. The company's Board of Directors has authorized the payment of $0.39 per common share. This dividend is scheduled for distribution on January 15, 2025, to shareholders who are on record as of December 13, 2024.

The declaration of this dividend is part of Thermo Fisher's ongoing financial strategies, reflecting its commitment to delivering value to shareholders. The company's robust financial position allows for consistent dividend payments, alongside its other shareholder-focused activities such as share repurchases and strategic investments aimed at long-term growth.

Thermo Fisher Scientific is known for its extensive portfolio of technologies and services that cater to various scientific fields, including life sciences research, analytical challenges, laboratory productivity, diagnostics, and the development of therapies. The company's global presence and industry-leading brands, such as Thermo Scientific, Applied Biosystems, and Fisher Scientific, contribute to its mission of making the world healthier, cleaner, and safer.

Investors and shareholders of Thermo Fisher may view this dividend announcement as a testament to the company's stable financial health and its ability to generate ample cash flow. Dividend payments are often seen as indicators of a company's confidence in its current and future financial performance.

This financial news is based on a press release statement issued by Thermo Fisher Scientific Inc. and does not include any promotional content or subjective assertions. It is a straightforward report on the company's dividend announcement, intended to inform shareholders and potential investors about this latest development in Thermo Fisher's financial management.

In other recent news, Thermo Fisher Scientific reported strong financial performance in its third-quarter earnings call, announcing a revenue of $10.6 billion and an adjusted earnings per share (EPS) of $5.28. Despite headwinds from reduced COVID-19 testing revenue, the company demonstrated resilience through strategic acquisitions, notably the recent purchase of Olink. Consequently, Thermo Fisher increased its full-year adjusted EPS guidance to a range of $21.35 to $22.07, while maintaining its revenue forecast within the range of $42.4 billion to $43.3 billion.

Baird, in response to these developments, revised its price target for Thermo Fisher shares to $622 from the previous $632, maintaining an Outperform rating. The firm's analysts expressed confidence in Thermo Fisher's ability to navigate current market conditions and capitalize on future growth drivers.

In addition to financial achievements, Thermo Fisher's strategic growth was highlighted by a partnership with the National Cancer Institute. These recent developments reflect Thermo Fisher's continued efforts to meet its long-term goals amid market uncertainties.

InvestingPro Insights

Thermo Fisher Scientific's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company has maintained dividend payments for 13 consecutive years and has raised its dividend for 6 consecutive years. This consistency underscores the company's commitment to returning value to shareholders, as highlighted in the article.

The company's financial stability is further evidenced by its robust market position, with a market capitalization of $212.63 billion. Despite a slight revenue decline of 2.42% over the last twelve months, Thermo Fisher maintains a healthy gross profit margin of 40.68%, indicating efficient cost management.

InvestingPro Tips reveal that Thermo Fisher is a prominent player in the Life Sciences Tools & Services industry, which aligns with the article's description of the company's extensive portfolio and global presence. Additionally, the company's stock generally trades with low price volatility, suggesting stability that may appeal to dividend-focused investors.

It's worth noting that Thermo Fisher is trading at a P/E ratio of 34.84, which some might consider high. However, this should be viewed in the context of the company's industry position and growth prospects.

For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Thermo Fisher Scientific, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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