Shares of healthcare solutions provider Thermo Fisher Scientific (NYSE:TMO) are trending lower today after the company posted first-quarter numbers.
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Revenue dropped 9.4% year-over-year to $10.71 billion but came in ahead of expectations by $40 million. EPS at $5.03, landed in line with expectations. During the quarter, Life Sciences Solutions and Specialty Diagnostics segments saw a decline. This impact was partially offset by gains in Analytical Instruments and Laboratory Products and Biopharma segments.
Next, TMO is expected to provide a financial outlook for 2023 on a conference call before the opening bell today.
Overall, the Street has a $666 consensus price target on TMO, pointing to a 21.4% potential upside in the stock.
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