B. Riley Wealth Advisors Inc. Has $11.67 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

B. Riley Wealth Advisors Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,165 shares of the medical research company’s stock after selling 2,647 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $11,674,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Triad Wealth Partners LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $43,000. Blue Trust Inc. grew its holdings in Thermo Fisher Scientific by 30.3% during the second quarter. Blue Trust Inc. now owns 829 shares of the medical research company’s stock worth $482,000 after buying an additional 193 shares in the last quarter. Gradient Investments LLC raised its position in Thermo Fisher Scientific by 11.8% in the 2nd quarter. Gradient Investments LLC now owns 18,366 shares of the medical research company’s stock valued at $10,156,000 after buying an additional 1,939 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific by 8.2% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 525 shares of the medical research company’s stock worth $292,000 after acquiring an additional 40 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its stake in shares of Thermo Fisher Scientific by 4.1% in the 2nd quarter. Boomfish Wealth Group LLC now owns 4,002 shares of the medical research company’s stock worth $2,213,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.4 %

Shares of NYSE:TMO opened at $526.89 on Friday. The company has a market cap of $201.54 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The firm has a fifty day moving average price of $550.39 and a two-hundred day moving average price of $573.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $5.69 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TMO shares. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Bank of America reduced their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $652.30.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last three months. Company insiders own 0.34% of the company’s stock.

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.