Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Raised by M&T Bank Corp

M&T Bank Corp raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,347 shares of the medical research company's stock after acquiring an additional 4,584 shares during the quarter. M&T Bank Corp's holdings in Thermo Fisher Scientific were worth $70,113,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TMO. Park National Corp OH increased its stake in Thermo Fisher Scientific by 6.5% in the second quarter. Park National Corp OH now owns 379 shares of the medical research company's stock valued at $210,000 after purchasing an additional 23 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Thermo Fisher Scientific by 1.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 4,994 shares of the medical research company's stock valued at $2,762,000 after purchasing an additional 84 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in Thermo Fisher Scientific by 8.5% in the second quarter. Great Valley Advisor Group Inc. now owns 10,884 shares of the medical research company's stock valued at $6,020,000 after purchasing an additional 850 shares during the last quarter. ORG Partners LLC increased its stake in Thermo Fisher Scientific by 216.6% in the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company's stock valued at $890,000 after purchasing an additional 1,122 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in Thermo Fisher Scientific by 12.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 275 shares of the medical research company's stock valued at $152,000 after acquiring an additional 31 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 0.3 %

NYSE TMO traded down $1.38 on Tuesday, hitting $535.85. 1,918,736 shares of the stock traded hands, compared to its average volume of 1,536,297. The stock has a 50-day moving average of $556.46 and a 200 day moving average of $575.08. Thermo Fisher Scientific Inc. has a twelve month low of $491.33 and a twelve month high of $627.88. The company has a market capitalization of $204.96 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.69 EPS. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on TMO. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price target for the company. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein lowered their price target 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. Robert W. Baird lowered their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, UBS Group raised Thermo Fisher Scientific to a "strong-buy" rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.33.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last three months. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific 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.