M&T Bank Corp Has $46.98 Million Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• M&T Bank Corp cut its position in Thermo Fisher by 14.3% in Q4 to 81,082 shares, valued at about $46.98 million.
• Thermo Fisher beat Q4 estimates—EPS $6.57 versus $6.45 and revenue $12.22B versus $11.95B (revenue +7.2% YoY)—and raised its quarterly dividend to $0.47 (annualized $1.88, yield 0.4%).
• Analysts' consensus is a Moderate Buy with an average price target of $631.25, while the stock trades near $515 (down 1.8%) and the company is valued at about $191.4 billion (P/E ~29).

M&T Bank Corp lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. Capital World Investors increased its position in Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock valued at $4,988,132,000 after acquiring an additional 706,572 shares during the period. Franklin Resources Inc. increased its position in Thermo Fisher Scientific by 21.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock valued at $2,874,069,000 after acquiring an additional 1,028,125 shares during the period. Bank of New York Mellon Corp increased its position in Thermo Fisher Scientific by 54.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company's stock valued at $1,732,422,000 after acquiring an additional 1,262,967 shares during the period. Massachusetts Financial Services Co. MA increased its position in Thermo Fisher Scientific by 5.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,087,666 shares of the medical research company's stock valued at $1,789,148,000 after acquiring an additional 150,668 shares during the period. Finally, Fisher Asset Management LLC increased its position in Thermo Fisher Scientific by 1.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,721,101 shares of the medical research company's stock valued at $1,319,789,000 after acquiring an additional 31,298 shares during the period. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. TD Cowen reduced their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating for the company in a report on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Thermo Fisher Scientific in a report on Wednesday, April 8th. UBS Group restated a "neutral" rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $631.25.

Thermo Fisher Scientific Stock Down 1.8%

TMO 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. The company's 50-day moving average is $500.69 and its 200 day moving average is $550.56. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm has a market capitalization of $191.40 billion, a P/E ratio of 29.03, a PEG ratio of 2.72 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating 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 company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period last year, the firm earned $6.10 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. Research analysts expect that Thermo Fisher Scientific Inc. will post 24.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by company insiders.

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.

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