M&T Bank Corp Sells 13,489 Shares of Thermo Fisher Scientific Inc. $TMO

M&T Bank Corp decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 81,082 shares of the medical research company’s stock after selling 13,489 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $46,983,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of Thermo Fisher Scientific by 22.9% in the fourth quarter. Assetmark Inc. now owns 37,654 shares of the medical research company’s stock worth $21,819,000 after purchasing an additional 7,023 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth about $41,393,000. Weaver Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth about $506,000. Mackenzie Financial Corp increased its stake in shares of Thermo Fisher Scientific by 29.4% in the third quarter. Mackenzie Financial Corp now owns 276,545 shares of the medical research company’s stock worth $134,130,000 after purchasing an additional 62,790 shares in the last quarter. Finally, VELA Investment Management LLC grew its stake in Thermo Fisher Scientific by 65.5% during the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after acquiring an additional 3,683 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

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 value of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

TMO has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen reduced their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $650.00 to $625.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Finally, Evercore reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $631.25.

Thermo Fisher Scientific Price Performance

TMO stock opened at $515.04 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The stock has a market cap of $191.40 billion, a PE ratio of 29.03, a P/E/G ratio of 2.72 and a beta of 0.97. The firm has a 50 day simple moving average of $500.69 and a two-hundred day simple moving average of $550.56.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the company earned $6.10 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc. will post 24.68 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio is presently 10.60%.

Thermo Fisher Scientific Profile

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.