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WALTHAM, MA – Thermo Fisher Scientific Inc. (NYSE:TMO), a global leader in serving science and a prominent player in the Life Sciences Tools & Services industry with a market capitalization of $203 billion, announced on Wednesday the appointment of Karen S. Lynch to its Board of Directors. The addition, effective immediately, increases the board’s size to twelve members. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, suggesting strong operational fundamentals.
Lynch, a seasoned health care executive with over thirty years of experience, is the former president and CEO of CVS Health Corporation (NYSE:CVS), where she led a workforce of over 300,000 and had an impact on over 120 million consumers. Her career began as a Certified Public Accountant at Ernst & Young LLP, and she has held various executive roles at Aetna Inc (NYSE:AET)., Magellan Health (NASDAQ:MGLN) Services, and Cigna Corporation (NYSE:CI).
The Board anticipates that Lynch will join the Audit Committee upon re-election at Thermo Fisher’s 2025 annual meeting. She will receive pro-rated annual compensation in line with the company’s standard arrangements for non-employee directors. Additionally, Lynch will enter into the company’s standard form of indemnification agreement.
This strategic move aligns with Thermo Fisher’s commitment to leadership and expertise in the health sector. The company’s engagement with Lynch underscores its dedication to incorporating a broad range of insights and experiences into its governance.
The information in this article is based on a press release statement from Thermo Fisher Scientific Inc. filed with the SEC.
In other recent news, Thermo Fisher Scientific reported robust financial results for the fourth quarter of 2024, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $6.10, exceeding the forecasted $5.95, and reported revenue of $11.4 billion, which was higher than the expected $11.29 billion. Additionally, Thermo Fisher has raised its quarterly dividend by 10% to $0.43 per share, reflecting its strong financial performance and commitment to shareholder value. RBC Capital Markets increased its price target for Thermo Fisher to $693, maintaining an Outperform rating, citing the company’s positive guidance and expected organic growth. Stifel also maintained a Buy rating with a price target of $665, highlighting Thermo Fisher’s strong year-end performance and potential for earnings growth. Meanwhile, Bernstein raised its price target to $690, noting the company’s strong quarterly results and improved market conditions. These developments indicate a favorable outlook for Thermo Fisher, driven by its strategic initiatives and financial performance.
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