M&T Bank Corp grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,628 shares of the medical research company’s stock after purchasing an additional 2,948 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $16,924,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC bought a new stake in Thermo Fisher Scientific in the 2nd quarter worth about $30,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $31,000. Capital Advisors Ltd. LLC grew its position in shares of Thermo Fisher Scientific by 250.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 100 shares during the period. MRA Associates USA LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $43,000. Finally, Focused Wealth Management Inc bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 88.19% of the company’s stock.
NYSE TMO traded up $1.90 on Wednesday, hitting $285.43. The stock had a trading volume of 50,126 shares, compared to its average volume of 1,333,994. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. The company has a market capitalization of $114.96 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The firm has a 50-day moving average of $280.56 and a 200-day moving average of $274.75.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter last year, the firm earned $2.75 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
In related news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the transaction, the chief executive officer now owns 342,193 shares of the company’s stock, valued at approximately $97,466,832.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.45% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on TMO shares. UBS Group increased their target price on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Barclays set a $330.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. BTIG Research increased their target price on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Wolfe Research initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, May 30th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target on the stock in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $303.17.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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