B. Riley Wealth Advisors Inc. Has $12.07 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

B. Riley Wealth Advisors Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,812 shares of the medical research company’s stock after selling 8,144 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $12,070,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC lifted its stake in Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the last quarter. Cedar Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares during the period. Lafayette Investments Inc. increased its position in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after acquiring an additional 18 shares during the period. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $650.41.

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.8 %

Shares of TMO opened at $614.42 on Monday. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88. The firm has a 50 day simple moving average of $606.08 and a two-hundred day simple moving average of $581.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company has a market cap of $234.53 billion, a P/E ratio of 39.41, a P/E/G ratio of 3.88 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. During the same quarter in the previous year, the business posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Thermo Fisher Scientific Company 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.