M&T Bank Corp Acquires 4,584 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

M&T Bank Corp lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the SEC. 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 the business. TD Private Client Wealth LLC boosted its holdings in Thermo Fisher Scientific by 24.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 8,149 shares of the medical research company's stock valued at $5,041,000 after acquiring an additional 1,591 shares during the period. Toronto Dominion Bank boosted its stake in shares of Thermo Fisher Scientific by 6.5% during the third quarter. Toronto Dominion Bank now owns 216,871 shares of the medical research company's stock valued at $134,150,000 after purchasing an additional 13,319 shares during the period. Empire Financial Management Company LLC increased its stake in shares of Thermo Fisher Scientific by 2.0% in the third quarter. Empire Financial Management Company LLC now owns 1,964 shares of the medical research company's stock worth $1,215,000 after buying an additional 38 shares during the period. Coldstream Capital Management Inc. raised its holdings in Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock valued at $5,972,000 after buying an additional 995 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after acquiring an additional 127,564 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $7.36 during trading hours on Friday, hitting $524.05. The company's stock had a trading volume of 2,713,540 shares, compared to its average volume of 1,556,857. The company's 50 day simple moving average is $543.04 and its two-hundred day simple moving average is $572.16. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $200.45 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of 3.54 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating 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 company had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.63 billion. During the same quarter in the prior year, the business earned $5.69 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

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

Thermo Fisher Scientific Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TMO. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird reduced their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an "overweight" rating in a research note on Friday, September 20th. Bernstein Bank upped their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a "buy" rating and a $680.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $652.30.

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.