Thermo Fisher Scientific, Inc. (NYSE:TMO) shares are trading higher by about half a percent on Friday as the company authorized a new share repurchase program and risk appetite is firm, with S&P 500 futures up 1.2%.
• Thermo Fisher Scientific shares are trending higher. What’s driving TMO shares up?
TMO Authorizes New $5 Billion Buyback
Thermo Fisher on Thursday said its board authorized up to $5 billion of repurchases, with no expiration date, to be executed in the open market or via negotiated transactions.
The new program replaces the prior authorization, which had $1 billion remaining.
Upbeat Third-Quarter Earnings and Guidance
In October, Thermo Fisher Scientific reported third-quarter adjusted earnings of $6.68 per share, beating the street view of $6.40.
The life science giant’s quarterly sales of $12.137 billion increased 9% year-over-year, beating the analyst consensus estimate of $11.946 billion. Organic revenue growth was 6%.
Chairman and CEO Marc Casper said the pharma and biotech business delivered high-single-digit growth during the quarter, led by the pharma services business and the research and safety market channel.
The company also reported growth in the clinical research business.
Thermo Fisher Scientific raised fiscal 2026 adjusted earnings guidance from $24.93-$25.33 per share to $25.13-$25.43 per share, compared to the consensus of $25.14.
The company also raised 2026 sales guidance from $47.4 billion-$48.10 billion to $47.70 billion-$48.20 billion versus $47.885 billion.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $693.27. Recent analyst moves include:
- Argus Research: Buy (Raises Price Target from $560 to $780)
- Citigroup: Buy (Raises Price Target from $685 to $800)
- Barclays: Overweight (Raises Price Target from $750 to $775)
- Baird: Outperform (Raises Price Target from $723 to $756).
- Stifel: Buy (Raises Price Target from $650 to $775).
- TD Cowen: Buy (Raises Price Target from $760 to $810).
- RBC Capital: Sector Perform (Raises Price Target from $580 to $730).
Top ETFs Holding Thermo Fisher (TMO)
- Simplify Health Care ETF (NYSE:PINK): 4.80% Weight
- AdvisorShares Focused Equity ETF (NYSE:CWS): 4.70% Weight
- Diamond Hill Large Cap Concentrated ETF (NYSE:DHLX): 5.80% Weight
TMO Price Action: Thermo Fisher Scientific shares were up 1.98% at $677.71 at the time of publication on Friday, according to Benzinga Pro data.
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