M&T Bank Corp Reduces Stock Holdings in Thermo Fisher Scientific Inc. $TMO

M&T Bank Corp cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.1% in the second quarter, HoldingsChannel reports. The firm owned 99,360 shares of the medical research company’s stock after selling 5,318 shares during the period. M&T Bank Corp’s holdings in Thermo Fisher Scientific were worth $40,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Family Office LLC grew its holdings in Thermo Fisher Scientific by 3.0% during the second quarter. Boston Family Office LLC now owns 41,181 shares of the medical research company’s stock worth $16,699,000 after acquiring an additional 1,182 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of Thermo Fisher Scientific by 25.3% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 479,144 shares of the medical research company’s stock worth $194,274,000 after purchasing an additional 96,610 shares during the period. Claret Asset Management Corp acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $232,000. Orleans Capital Management Corp LA raised its position in shares of Thermo Fisher Scientific by 20.7% in the second quarter. Orleans Capital Management Corp LA now owns 6,317 shares of the medical research company’s stock worth $2,561,000 after acquiring an additional 1,085 shares during the period. Finally, Bristol Gate Capital Partners Inc. grew its position in shares of Thermo Fisher Scientific by 6.9% during the 2nd quarter. Bristol Gate Capital Partners Inc. now owns 173,498 shares of the medical research company’s stock valued at $70,347,000 after acquiring an additional 11,183 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 4,638 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $594.42, for a total transaction of $2,756,919.96. Following the completion of the sale, the chief operating officer directly owned 23,480 shares in the company, valued at $13,956,981.60. This trade represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $574.15, for a total transaction of $229,660.00. Following the completion of the sale, the executive vice president owned 21,152 shares of the company’s stock, valued at $12,144,420.80. This trade represents a 1.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 51,800 shares of company stock worth $30,003,027. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Down 1.0%

TMO opened at $585.19 on Tuesday. The firm has a market capitalization of $219.86 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company’s 50 day simple moving average is $550.75 and its two-hundred day simple moving average is $481.40. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The firm had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. UBS Group increased their price objective on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, William Blair assumed coverage on Thermo Fisher Scientific in a research note on Monday, August 18th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $601.65.

About Thermo Fisher Scientific

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.