Thermo Fisher cuts 2021 COVID-19 test sales forecast by $900 million, citing lower demand [Reuters]
Thermo Fisher Scientific Inc (TMO)
Last thermo fisher scientific inc earnings: 4/22 06:00 am
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Source: Reuters
The company, one of the major providers of coronavirus tests, benefited from strong demand during the pandemic, but rising vaccination has hit demand for these tests and other test makers have also warned of a slump. Shares of Thermo Fisher fell 1% to $524.71 in midday trading. “We decided that the prudent thing to do is to assume that testing moderates in the second half (of the year)” said Marc Casper, Thermo Fisher's chief executive officer, in an interview with Reuters. Thermo Fisher, the biggest maker of scientific instruments, now expects COVID-19 testing revenue of $4.9 billion for 2021, down from $5.8 billion it expected earlier. The company, however, said demand for its raw materials used in COVID-19 vaccines and therapies is likely to sustain in the year and easing of curbs led to growth in its mainstay businesses. Thermo Fisher is positioning itself where the downside scenario risks to its outlook are very low, said Atlantic Equities LLP analyst James Mainwaring,
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News
- Failure Analysis Equipment Market To Reach USD 8.7 Billion By 2032 | DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
- Thermo Fisher Scientific Inc. (NYSE: TMO) had its price target raised by analysts at Barclays PLC from $590.00 to $615.00. They now have an "equal weight" rating on the stock.MarketBeat
- Life Science Tools Market To Reach USD 400.2 Billion By 2032 | DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
- Thermo Fisher Scientific Inc. (NYSE: TMO) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $600.00 to $610.00. They now have a "buy" rating on the stock.MarketBeat
- Thermo Fisher Scientific Inc. (NYSE:TMO) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
TMO
Earnings
- 4/24/24 - Beat
TMO
Sec Filings
- 4/24/24 - Form 8-K
- 4/9/24 - Form ARS
- 4/9/24 - Form DEFA14A
- TMO's page on the SEC website