- Thermo Fisher Scientific Inc’s (NYSE: TMO) revenue increased by 9% YoY in Q3, FY21.
- TMO raised its revenue guidance for fiscal 2021 to US$37.1 billion.
- Boston Scientific Corp (NYSE: BSX) expects EPS in the range of US$0.21 to US$0.23 in Q4, FY21.
Biotechnology company Thermo Fisher Scientific Inc (NYSE: TMO) and medical device manufacturer Boston Scientific Corporation (NYSE: BSX) reported modest revenue growth in their latest quarters before the opening bell on Wednesday.
The TMO stock was up 1.63% to US$618.25, while the BSX stock traded flat at US$44.32 in the pre-market compared with the previous closing prices.
Thermo Fisher Scientific Inc
Thermo Fisher is an advanced instrumentation company based in Waltham, Massachusetts. It manufactures lab instruments and consumables for the healthcare industry.
Its revenue surged 9% YoY to US$9.33 billion in Q3, FY21, aided by increased demand for Covid-related healthcare products. The results beat analysts' revenue estimates of US$8.39 billion in the quarter, according to Refinitiv data.
Its operating income was US$2.27 billion against US$2.42 billion in the year-ago quarter. It reported a net income of US$1.90 billion, or US$4.79 per diluted share, as compared to US$1.93 billion, or US$4.84 per diluted share in Q3, FY20.
The company has raised its guidance for fiscal 2021 by US$1.2 billion or 15% YoY to US$37.1 billion. It also raised its forecast for annual adjusted EPS by US$1.30 to US$23.37, an increase of 20% from the previous year.
Thermo Fisher has a market cap of US$239.33 billion, a P/E ratio of 28.2, and a forward P/E one year of 27.46. Its EPS is US$21.57. The 52-week highest and lowest stock prices were US$616.93 and US$433.52, respectively. Its trading volume was 1,051,502 on October 26.
Boston Scientific Corporation (NYSE: BSX)
Boston Scientific is a manufacturing company based in Marlborough, Massachusetts. It manufactures medical equipment.
The company's net sales increased by 10.3% YoY to US$2.93 billion in Q3, FY21. Its gross profit was US$2.03 billion, as compared to US$1.79 billion in the previous year's third quarter.
The firm's operating income was US$387 million, against a loss of US$205 million in Q3, FY20. Its net income came in at US$419 million, or US$0.28 per share, against a loss of US$169 million, or a loss of US$0.12 per share in the prior year's same quarter.
On a reported basis, the firm expects its net sales to grow between 13% and 17% YoY in Q4, FY21, and between 19% and 20% for fiscal 2021. It expects its Q4, FY21 EPS to be between US$0.21 and US$0.23, while the fiscal 2021 EPS to be between US$0.83 and US$0.85.
Boston Scientific’s market cap is US$63.10 billion, the P/E ratio is 134.3, and the forward P/E one year is 27.53. Its EPS is US$0.33. The stock saw the highest price of US$46.28 and the lowest price of US$32.99 in the last 52 weeks. Its share volume on October 26 was 5,314,707.
Both the stocks witnessed significant gains in recent quarters. The TMO stock rose 28.93% YTD, while the BSX stock gained 25.66% YTD. On the other hand, the S&P 500 Health Care sector increased by 16.62% YTD while increasing 4.04% QTD, suggesting the sector's steady growth. However, investors should evaluate the companies carefully before investing in stocks.