M&T Bank Corp Has $70.11 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

M&T Bank Corp grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 113,347 shares of the medical research company’s stock after buying an additional 4,584 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $70,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at about $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC lifted its position in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth $50,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.4 %

NYSE:TMO opened at $524.05 on Friday. The stock’s fifty day moving average price is $543.04 and its two-hundred day moving average price is $572.16. The company has a market cap of $200.45 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 3.54 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company earned $5.69 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TMO shares. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Sanford C. Bernstein cut their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America dropped their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $652.30.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.