Analyst Consensus ?
ConsensusBuy42 ratings
Bullish3583.3%
Neutral716.7%
Bearish00.0%
Thermo Fisher Scientific Inc. · TMO · FY2026 Q3 · Calendar Q4 2026
Thermo Fisher raises 2026 guidance as pharma services and AI support growth
Thermo Fisher's Q3 analysis supports a constructive operating trajectory: resilient pharma services, bioproduction, and electron microscopy demand coincided with higher full-year guidance. The thesis remains dependent on sustained end-market momentum, execution on capacity and AI initiatives, and acquisition integration.
Reported Before market openNYSEHealthcare
$254.15B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $6.40
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $11.95B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.5%
Event window
SPY move
+0.4%
Same window
Abnormal move
+2.0%
Stock minus SPY
Volume
0.8×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
TMOSPY benchmark
Ask FN2 about TMO FY2026 Q3
Transcript, numbers and history already loaded
What drove TMO's +2.5% move after FY2026 Q3 earnings?What changed in TMO's guidance and outlook in FY2026 Q3?Give me the bull and bear case for TMO after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management reported stronger Q3 growth, raised full-year revenue and adjusted EPS guidance again, and emphasized broader AI deployment, new capacity investments, and early synergies from recent acquisitions.
Guidance delta
Management raised full-year 2026 guidance to $47.7-$48.2 billion of revenue and $25.13-$25.43 of adjusted EPS.
Key takeaways
- Q3 revenue grew 9% year over year to $12.14 billion and adjusted EPS increased 15% to $6.68.
- Pharma Services and bioproduction were primary growth engines, while electron microscopy benefited from semiconductor-related demand.
- Management highlighted AI-enabled instruments and services, including tools that improve workflow productivity.
- Clario and the filtration and separation acquisition were described as integrating smoothly and delivering early synergies.
Management priorities
- Expand Pharma Services and bioproduction capacity.
- Continue integrating AI across instruments, services, and clinical research tools.
- Advance the Precure initiative with Mayo Clinic and expand the AI-Automation Innovation Center in South Korea.
- Open a highly automated distribution center in Kentucky and continue product innovation.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$695.79Current
$460Low
$642.02Average
$750High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Oct 13, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 13, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 7, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 27, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 6, 2026 |
| HSBC | Hold | Buy | Downgrade | Jun 3, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 8, 2026 |
| Stifel | Buy | Buy | Maintain | Apr 24, 2026 |
| Baird | Outperform | Outperform | Maintain | Apr 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jan 30, 2026 |
| Keybanc | Overweight | Sector Weight | Upgrade | Dec 8, 2025 |
| Argus Research | Buy | Buy | Maintain | Oct 29, 2025 |
| UBS | Neutral | Neutral | Maintain | Oct 23, 2025 |
| Leerink Partners | Outperform | Outperform | Maintain | Oct 22, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 9, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Jul 24, 2025 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Jul 11, 2025 |
| B of A Securities | Buy | Buy | Maintain | Dec 13, 2024 |
| Bernstein | Market Perform | Market Perform | Maintain | Oct 24, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Apr 25, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 10, 2024 |
| Credit Suisse | Outperform | Neutral | Upgrade | Jul 13, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | Jul 6, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 2, 2023 |
| BTIG | Buy | Buy | Maintain | Feb 2, 2022 |
| Benchmark | Buy | Buy | Maintain | Jul 16, 2021 |
| Needham | Buy | Buy | Maintain | Dec 1, 2020 |
| Atlantic Equities | Overweight | Overweight | Maintain | Sep 30, 2020 |
| Cleveland Research | Buy | Neutral | Upgrade | Jul 15, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 15, 2019 |
| Bank of America | Buy | Buy | Maintain | Feb 1, 2018 |
| BTIG Research | Buy | Buy | Maintain | Jan 5, 2018 |
| Leerink Swann | Outperform | Outperform | Maintain | Oct 9, 2017 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | May 19, 2017 |
| Jefferies | Hold | Buy | Downgrade | Apr 29, 2016 |
| Avondale Partners | Outperform | Market Outperform | Maintain | Jan 6, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Jul 24, 2014 |
| Janney Capital | Buy | Buy | Maintain | Aug 15, 2013 |
| ISI Group | Buy | Buy | Maintain | Jan 31, 2013 |
| Wallachbeth | Buy | Buy | Maintain | Aug 9, 2012 |
| Mizuho | Neutral | Buy | Downgrade | May 15, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $695.79. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Analyst unavailable | $740 | $673.2 | +6.4% | Oct 15, 2026 |
| Guggenheim | Analyst unavailable | $740 | $673.2 | +6.4% | Oct 15, 2026 |
| Morgan Stanley | Analyst unavailable | $730 | $659.6 | +4.9% | Oct 12, 2026 |
| Barclays | Luke Sergott | $750 | $656.58 | +7.8% | Oct 7, 2026 |
| Deutsche Bank | Analyst unavailable | $720 | $665.25 | +3.5% | Sep 25, 2026 |
| UBS | Analyst unavailable | $730 | $603.02 | +4.9% | Sep 8, 2026 |
| CLSA | Michael Luo | $748 | $608.54 | +7.5% | Sep 3, 2026 |
| Stifel Nicolaus | Analyst unavailable | $650 | $564.75 | -6.6% | Aug 5, 2026 |
| Piper Sandler | Analyst unavailable | $600 | $568.26 | -13.8% | Jul 27, 2026 |
| Morgan Stanley | Analyst unavailable | $650 | $568.26 | -6.6% | Jul 24, 2026 |
| RBC Capital | Dan Leonard | $580 | $561.09 | -16.6% | Jul 24, 2026 |
| Jefferies | Tycho Peterson | $630 | $572.6 | -9.5% | Jul 23, 2026 |
| Evercore ISI | Analyst unavailable | $570 | $511.31 | -18.1% | Jul 6, 2026 |
| Bernstein | Analyst unavailable | $520 | $505.75 | -25.3% | Jun 26, 2026 |
| Piper Sandler | Analyst unavailable | $510 | $482.04 | -26.7% | Jun 11, 2026 |
| HSBC | Sidharth Sahoo | $540 | $482.08 | -22.4% | Jun 3, 2026 |
| RBC Capital | Analyst unavailable | $490 | $448.21 | -29.6% | May 14, 2026 |
| Morgan Stanley | Kallum Titchmarsh | $620 | $472.23 | -10.9% | Apr 27, 2026 |
| Stifel Nicolaus | Daniel Arias | $600 | $467.47 | -13.8% | Apr 24, 2026 |
| Robert W. Baird | Catherine Ramsey Schulte | $639 | $466.7 | -8.2% | Apr 24, 2026 |
| UBS | Analyst unavailable | $615 | $579.86 | -11.6% | Jan 30, 2026 |
| Wells Fargo | Analyst unavailable | $683 | $580.09 | -1.8% | Jan 30, 2026 |
| Robert W. Baird | Analyst unavailable | $653 | $583.12 | -6.1% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $650 | $592.16 | -6.6% | Jan 30, 2026 |
| Stifel Nicolaus | Daniel Arias | $700 | $606.5 | +0.6% | Jan 9, 2026 |
| Evercore ISI | Vijay Kumar | $650 | $605.83 | -6.6% | Jan 5, 2026 |
| Wells Fargo | Analyst unavailable | $675 | $571.99 | -3.0% | Dec 15, 2025 |
| Goldman Sachs | Evie Koslosky | $685 | $568.21 | -1.6% | Dec 9, 2025 |
| KeyBanc | Paul Knight | $750 | $572.77 | +7.8% | Dec 7, 2025 |
| Argus Research | Analyst unavailable | $610 | $570.82 | -12.3% | Oct 29, 2025 |
| Morgan Stanley | Analyst unavailable | $656 | $563.28 | -5.7% | Oct 28, 2025 |
| UBS | Analyst unavailable | $590 | $571.68 | -15.2% | Oct 23, 2025 |
| Barclays | Analyst unavailable | $625 | $567.2 | -10.2% | Oct 23, 2025 |
| Leerink Partners | Analyst unavailable | $580 | $567.2 | -16.6% | Oct 22, 2025 |
| Redburn Partners | Analyst unavailable | $575 | $536.19 | -17.4% | Oct 8, 2025 |
| Redburn Partners | Analyst unavailable | $580 | $539.17 | -16.6% | Oct 8, 2025 |
| Barclays | Luke Sergott | $585 | $530.73 | -15.9% | Oct 2, 2025 |
| RBC Capital | Conor McNamara | $561 | $487.53 | -19.4% | Sep 2, 2025 |
| UBS | Dan Leonard | $460 | $426.17 | -33.9% | Jul 8, 2025 |
| Scotiabank | Analyst unavailable | $605 | $424.24 | -13.0% | Apr 25, 2025 |
| Goldman Sachs | Matthew Sykes | $610 | $431.64 | -12.3% | Apr 23, 2025 |
| RBC Capital | Conor McNamara | $693 | $597.75 | -0.4% | Jan 31, 2025 |
| Evercore ISI | Vijay Kumar | $585 | $522.57 | -15.9% | Jan 2, 2025 |
| Robert W. Baird | Catherine Schulte | $622 | $576.49 | -10.6% | Oct 24, 2024 |
| Barclays | Luke Sergott | $610 | $570.92 | -12.3% | Oct 23, 2024 |
| Evercore ISI | Vijay Kumar | $630 | $618.57 | -9.5% | Oct 1, 2024 |
| Stifel Nicolaus | Daniel Arias | $680 | $620.25 | -2.3% | Sep 20, 2024 |
| Robert W. Baird | Catherine Schulte | $632 | $620.25 | -9.2% | Sep 20, 2024 |
| Citigroup | Patrick Donnelly | $620 | $617.1 | -10.9% | Sep 19, 2024 |
| Deutsche Bank | Justin Bowers | $630 | $609.41 | -9.5% | Sep 18, 2024 |
| Bank of America Securities | Derik de Bruin | $675 | $611.17 | -3.0% | Sep 16, 2024 |
| Raymond James | Andrew Cooper | $660 | $593.86 | -5.1% | Jul 25, 2024 |
| Barclays | Luke Sergott | $600 | $550.78 | -13.8% | Jun 28, 2024 |
| HSBC | Sidharth Sahoo | $670 | $576.89 | -3.7% | Apr 30, 2024 |
| Deutsche Bank | Justin Bowers | $610 | $577.39 | -12.3% | Apr 25, 2024 |
| Barclays | Luke Sergott | $615 | $577.39 | -11.6% | Apr 25, 2024 |
| Robert W. Baird | Catherine Schulte | $670 | $531.65 | -3.7% | Dec 28, 2023 |
| Raymond James | Andrew Cooper | $530 | $444.46 | -23.8% | Oct 26, 2023 |
| Credit Suisse | Thermo Fisher | $620 | $525.63 | -10.9% | Jul 13, 2023 |
| Cowen & Co. | Analyst unavailable | $711 | $591.95 | +2.2% | Feb 2, 2023 |
| Citigroup | Analyst unavailable | $700 | $589.73 | +0.6% | Feb 2, 2023 |
| Barclays | Analyst unavailable | $660 | $587.36 | -5.1% | Feb 2, 2023 |
| Leerink Partners | Analyst unavailable | $630 | $587.36 | -9.5% | Feb 2, 2023 |
| Leerink Partners | Analyst unavailable | $620 | $532.88 | -10.9% | Jan 6, 2023 |
| Wells Fargo | Analyst unavailable | $505 | $553.18 | -27.4% | Jan 3, 2023 |
| Deutsche Bank | Analyst unavailable | $620 | $571.38 | -10.9% | Dec 14, 2022 |
| RBC Capital | Analyst unavailable | $661 | $550.53 | -5.0% | Dec 7, 2022 |
| Barclays | Analyst unavailable | $570 | $540.03 | -18.1% | Nov 29, 2022 |
| Barclays | Analyst unavailable | $595 | $569.4 | -14.5% | Sep 12, 2022 |
| Barclays | Luke Sergott | $685 | $587.98 | -1.6% | Aug 4, 2022 |
| Morgan Stanley | Analyst unavailable | $678 | $606.24 | -2.6% | Jul 29, 2022 |
| Leerink Partners | Analyst unavailable | $650 | $597.64 | -6.6% | Jul 29, 2022 |
| Barclays | Analyst unavailable | $630 | $530.93 | -9.5% | Jul 13, 2022 |
| Morgan Stanley | Analyst unavailable | $670 | $563.79 | -3.7% | Apr 29, 2022 |
| Wells Fargo | Analyst unavailable | $525 | $561.28 | -24.5% | Apr 25, 2022 |
| Morgan Stanley | Tejas Savant | $700 | $619.47 | +0.6% | Oct 28, 2021 |
| Benchmark Co. | Robert Wasserman | $650 | $611.7 | -6.6% | Oct 27, 2021 |
| Goldman Sachs | Matthew Sykes | $690 | $607.64 | -0.8% | Sep 23, 2021 |
| J.P. Morgan | Tycho Peterson | $700 | $589.63 | +0.6% | Sep 20, 2021 |
| Bank of America Securities | Derik De Bruin | $670 | $589.63 | -3.7% | Sep 20, 2021 |
| KeyBanc | Paul Knight | $710 | $589.63 | +2.0% | Sep 20, 2021 |
| Jefferies | Brandon Couillard | $540 | $589.63 | -22.4% | Sep 20, 2021 |
| Argus Research | David Toung | $600 | $538.11 | -13.8% | Aug 4, 2021 |
Track every rating change on TMO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThermo Fisher Scientific Inc. is a global leader in scientific services, providing a comprehensive range of offerings that include life sciences solutions, advanced analytical instruments, specialized diagnostic products, and an extensive portfolio of laboratory supplies and biopharmaceutical services. The company's reach extends across North America, Europe, Asia-Pacific, and other international markets. Its Life Sciences Solutions division furnishes researchers with essential reagents, state-of-the-art instruments, and consumables vital for biological and medical exploration, the development and manufacturing of therapeutics and vaccines, and the detection of infections and various diseases. This segment encompasses bioscience, genetic science, and bioproduction technologies, serving a broad spectrum of clients in the pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and governmental sectors.…
Historical context
All TMO earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| DHR Danaher Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +2.9% | Danaher raises EPS outlook as Q3 growth reaches 5.5% |
| ELV Elevance Health Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -0.2% | Elevance Health raises 2026 EPS outlook as Medicaid and Carelon improve |
| ISRG Intuitive Surgical, Inc. | FY2026 Q3 · Calendar Q4 2026 | +13.2% | -3.6% | Intuitive Surgical: Strong Q3 growth, with pricing and policy risks ahead |
Latest beats and misses
Who reports nextBeat on EPS
- CBFY2026 Q3 · October 20, 2026+12.8% EPS-0.4% move
- ISRGFY2026 Q3 · October 20, 2026+13.2% EPS-3.6% move
- SPCXFY2026 Q3 · October 20, 2026+160.0% EPS-0.1% move
- COF-PIFY2026 Q3 · October 20, 2026+21.6% EPS— move
- MSCIFY2026 Q3 · October 20, 2026+1.6% EPS+5.0% move
- COF-PLFY2026 Q3 · October 20, 2026+21.6% EPS— move
Missed on EPS
- PACFY2026 Q3 · October 20, 2026-2.2% EPS+7.1% move
- AGNCZFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCLFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
- AGNCOFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCPFY2026 Q3 · October 19, 2026-0.6% EPS0.0% move
- AGNCMFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-21T16:07:35.810707+00:00
- FN2 earnings calendar · 2026-10-21T01:23:14.182042+00:00
- Polygon adjusted daily market bars · 2026-10-21T16:20:44.595942+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-21T16:20:44.593302+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-21. For educational purposes only; not investment advice.