M&T Bank Corp Sells 8,458 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

M&T Bank Corp lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,389 shares of the medical research company’s stock after selling 8,458 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $61,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.6% in the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock worth $16,582,503,000 after purchasing an additional 180,618 shares in the last quarter. Morgan Stanley lifted its position in shares of Thermo Fisher Scientific by 0.4% during the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after acquiring an additional 50,736 shares during the period. Northern Trust Corp grew its holdings in Thermo Fisher Scientific by 2.6% in the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock worth $1,988,856,000 after purchasing an additional 99,377 shares during the period. Wellington Management Group LLP raised its holdings in shares of Thermo Fisher Scientific by 9.8% during the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock valued at $1,559,351,000 after purchasing an additional 274,464 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Thermo Fisher Scientific by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,184,928 shares of the medical research company’s stock worth $1,105,945,000 after purchasing an additional 8,672 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TMO. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Barclays increased their target price on Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price target for the company. Raymond James boosted their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.35.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $1.13 during mid-day trading on Friday, hitting $572.38. The company had a trading volume of 1,749,670 shares, compared to its average volume of 1,409,187. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The stock’s fifty day moving average price is $575.39 and its two-hundred day moving average price is $532.82. The firm has a market cap of $218.48 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Debora L. Spar sold 164 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at $660,192.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,277 shares of company stock worth $35,373,364. 0.34% of the stock is owned by corporate insiders.

About Thermo Fisher Scientific

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.