Welcome to our dedicated page for Thermo Fisher Scientific news (Ticker: TMO), a resource for investors and traders seeking the latest updates and insights on Thermo Fisher Scientific stock.
Thermo Fisher Scientific, Inc. (TMO) is a global leader in providing science-based solutions, offering a wide range of products and services in the life sciences, analytical instruments, specialty diagnostics, and laboratory products sectors. The company's expansive portfolio includes scientific instruments, laboratory equipment, diagnostic consumables, and life science reagents, serving customers both in the United States and internationally.
Thermo Fisher operates through four distinct segments as of end-2023:
- Analytical Technologies (17% of sales): This segment focuses on providing high-quality instruments and software solutions for various scientific applications.
- Specialty Diagnostic Products (10% of sales): This segment specializes in offering diagnostic reagents and instruments for medical and research laboratories.
- Life Science Solutions (23% of sales): This segment provides reagents, instruments, and consumables used in biological research and drug development.
- Lab Products and Services (54% of sales): This is the largest segment, encompassing laboratory supplies, equipment, and contract research organization (CRO) services.
Thermo Fisher is continually expanding its offerings and capabilities through strategic partnerships, acquisitions, and technological innovation. The company's robust financial performance underscores its leadership in the industry, driven by consistent revenue growth, strong market presence, and a commitment to advancing scientific research and healthcare.
Recent achievements include technological advancements in analytical instruments, enhanced diagnostic solutions, and expanded biopharma services, reflecting Thermo Fisher's dedication to supporting life-saving research and diagnostic processes. Thermo Fisher remains committed to delivering high-quality products and services, fostering scientific breakthroughs, and maintaining its position at the forefront of scientific innovation.
Thermo Fisher Scientific (NYSE: TMO) reported its Q2 2024 financial results, with revenue slightly declining 1% to $10.54 billion. Despite this, the company saw improvements in profitability, with GAAP diluted EPS increasing 15% to $4.04 and adjusted EPS rising 4% to $5.37. The company's GAAP operating margin expanded to 17.3% from 14.8% in Q2 2023.
Thermo Fisher launched several innovative products during the quarter, including new mass spectrometers and sustainable bioprocessing solutions. The company also expanded its clinical trial supply services and completed the acquisition of Olink, enhancing its protein research capabilities. Based on strong performance, Thermo Fisher raised its full-year 2024 guidance, projecting revenue between $42.4 to $43.3 billion and adjusted EPS of $21.29 to $22.07.
CytoReason, a leader in computational disease modeling, has secured $80 million in funding from OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific. The investment will be used to expand disease models, grow proprietary data, and establish a US hub in Cambridge, Massachusetts. CytoReason's technology provides molecular-level insights and AI tools to help pharma companies make data-driven R&D decisions, improving the probability of phase 2 success.
The company has partnerships with six of the world's top ten pharma companies and has published numerous scientific articles in prestigious journals. This funding round highlights the growing importance of AI and data modeling in pharmaceutical R&D, with investors recognizing CytoReason's potential to revolutionize drug development processes.
Thermo Fisher Scientific (NYSE: TMO) has announced a quarterly cash dividend of $0.39 per common share. This dividend is payable on October 15, 2024, to shareholders who are on record as of September 13, 2024. The announcement was made by the company's Board of Directors as part of their regular dividend policy.
This move reflects Thermo Fisher's ongoing commitment to providing consistent returns to its shareholders, reinforcing investor confidence in the company's financial stability and future growth prospects.
Thermo Fisher Scientific (NYSE: TMO) is collaborating with the National Cancer Institute (NCI) to advance the myeloMATCH precision medicine clinical trial. This trial aims to accelerate research and treatment for Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS) using next-generation sequencing (NGS) technology. By quickly identifying genetic biomarkers in patients' bone marrow and blood, the trial aims to match patients to appropriate clinical studies. This approach could lead to more personalized and effective treatments, potentially increasing the survival rate for these aggressive cancers. The trial will deploy Thermo Fisher's Ion Torrent Genexus System, which offers next-day genomic testing and covers over 2,200 sites in North America.
Thermo Fisher Scientific (NYSE: TMO) has successfully completed its acquisition of Olink Holding AB (Nasdaq: OLK) for $3.1 billion. This strategic acquisition enhances Thermo Fisher's capabilities in the high-growth proteomics market, integrating Olink’s advanced proteomics solutions with Thermo Fisher's mass spectrometry and life sciences offerings.
The transaction was executed via a tender offer where Thermo Fisher's subsidiary, Orion Acquisition AB, acquired approximately 98.2% of Olink’s outstanding shares at $26.00 per share or ADS. The initial offering period expired on July 9, 2024, and a subsequent offering period will run until July 16, 2024.
Post-acquisition, Olink will be delisted from Nasdaq and deregistered, affecting the liquidity of remaining ADSs. Thermo Fisher aims to expedite scientific breakthroughs and deliver significant shareholder value through this acquisition.
Thermo Fisher Scientific (NYSE: TMO) will release its Q2 2024 financial results on July 24, 2024, before market open. An earnings conference call is scheduled for the same day at 8:30 a.m. EDT. During the call, financial performance and future expectations will be discussed. U.S. participants can dial (833) 470-1428, while international participants can use (404) 975-4839 with access code 023107. The call and replay will be available on the company's website under the 'Investors' section.
Thermo Fisher Scientific (NYSE: TMO) has extended the expiration time for its tender offer to acquire all outstanding common shares and American Depositary Shares (ADSs) of Olink Holding AB to July 9, 2024, at 5:00 p.m. New York time. The offer price remains $26.00 per share and ADS, in cash. As of June 18, 2024, approximately 84,755,040 shares and 35,240,339 ADSs have been tendered, representing about 96.2% of Olink's outstanding shares. Shareholders who have already tendered their shares or ADSs do not need to take further action. The completion of the offer is still subject to conditions detailed in the tender offer statement filed with the U.S. SEC.
Thermo Fisher Scientific (NYSE: TMO) has introduced the Thermo Scientific Stellar mass spectrometer (MS), a pioneering tool designed to enhance clinical research and precision medicine. The Stellar MS offers fast throughput, high sensitivity, and ease of use, significantly advancing translational omics research. This new tool complements the Thermo Scientific Orbitrap Astral MS by verifying key biomarkers, including peptides, metabolites, and lipids. Featuring third-party software support and integration with the Thermo Scientific Vanquish Neo UHPLC system, the Stellar MS delivers 10X quantitative sensitivity, enabling researchers to analyze five times more compounds and complete studies faster. Thermo Fisher will showcase the Stellar MS at the ASMS annual conference in June 2024.
Thermo Fisher Scientific released its 2023 Corporate Social Responsibility (CSR) report, detailing the company's commitments and progress in various areas. The report highlights the company's efforts in community support, environmental sustainability, and workforce development. Thermo Fisher employees volunteered over 100,000 hours globally and engaged more than 60,000 students in STEM competitions. The company is committed to achieving net-zero emissions by 2050, utilizing 41% renewable energy, and aims for 80% renewable electricity by 2030. Workforce initiatives include new training programs and enhanced wellness resources.
Thermo Fisher Scientific (NYSE: TMO), a leading entity in the science sector, has declared a quarterly cash dividend of $0.39 per common share.
This dividend is scheduled for payment on July 15, 2024, to shareholders recorded by June 14, 2024.
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