M&T Bank Corp Sells 6,291 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

M&T Bank Corp lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,678 shares of the medical research company's stock after selling 6,291 shares during the period. M&T Bank Corp's holdings in Thermo Fisher Scientific were worth $52,088,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TMO. Cypress Advisory Group LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $253,000. Intact Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 34.0% in the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after buying an additional 660 shares during the last quarter. GAMMA Investing LLC lifted its position in Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after buying an additional 877 shares in the last quarter. Deutsche Bank AG grew its holdings in Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after acquiring an additional 114,277 shares during the last quarter. Finally, Hancock Whitney Corp raised its stake in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock worth $2,802,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Down 2.5%

TMO opened at $418.76 on Tuesday. The stock has a market capitalization of $158.08 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.28 and a beta of 0.77. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88. The firm's fifty day simple moving average is $409.13 and its 200 day simple moving average is $478.65.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.11 earnings per share. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the transaction, the executive vice president owned 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Barclays dropped their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $604.05.

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.

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