M&T Bank Corp Has $45.87 Million Stake in Thermo Fisher Scientific Inc. $TMO

M&T Bank Corp reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,571 shares of the medical research company’s stock after selling 4,789 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $45,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Thermo Fisher Scientific by 185.6% during the second quarter. Clearstead Trust LLC now owns 5,543 shares of the medical research company’s stock worth $2,247,000 after purchasing an additional 3,602 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Thermo Fisher Scientific by 21.3% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 32,288 shares of the medical research company’s stock valued at $13,090,000 after buying an additional 5,664 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of Thermo Fisher Scientific by 3.7% in the second quarter. Arcadia Investment Management Corp MI now owns 32,202 shares of the medical research company’s stock valued at $13,057,000 after buying an additional 1,136 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $463.99 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $557.83 and its 200 day simple moving average is $548.17. The firm has a market capitalization of $172.36 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the previous year, the firm earned $6.10 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a $0.47 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.70%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of recent research reports. Evercore restated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a research note on Sunday, December 7th. Barclays upped their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, TD Cowen decreased their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.