Thermo Fisher Scientific TMO shares ended the last trading session 8.2% higher at $453.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.5% loss over the past four weeks.
Thermo Fisher scored a strong price increase, on investors’ optimism surrounding its impending 2025 first-quarter financial results, which is slated to release on April 23 before the opening bell. In the last reported quarter, the company achieved robust revenue growth across all product categories. Additionally, market is also upbeat about the company’s launch of latest customer-centric innovation, the Thermo Scientific Krios 5 Cryo-Transmission Electron Microscope (TEM).
This maker of scientific instrument and laboratory supplies is expected to post quarterly earnings of $5.11 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $10.25 billion, down 0.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Thermo Fisher, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TMO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Thermo Fisher belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Accuray ARAY, closed the last trading session 3.9% higher at $1.59. Over the past month, ARAY has returned -15.9%.
Accuray's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of +16.7%. Accuray currently boasts a Zacks Rank of #3 (Hold).
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