Duality Advisers LP purchased a new position in shares of PerkinElmer, Inc. (NYSE:PKI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,897 shares of the medical research company’s stock, valued at approximately $1,854,000.
A number of other institutional investors have also recently added to or reduced their stakes in PKI. Louisiana State Employees Retirement System increased its holdings in PerkinElmer by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 4,800 shares of the medical research company’s stock worth $471,000 after acquiring an additional 100 shares during the period. Mutual of America Capital Management LLC increased its holdings in PerkinElmer by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 15,149 shares of the medical research company’s stock worth $1,140,000 after acquiring an additional 148 shares during the period. Guyasuta Investment Advisors Inc. increased its holdings in PerkinElmer by 1.1% during the 1st quarter. Guyasuta Investment Advisors Inc. now owns 14,185 shares of the medical research company’s stock worth $1,068,000 after acquiring an additional 150 shares during the period. Palmer Knight Co increased its holdings in PerkinElmer by 0.3% during the 2nd quarter. Palmer Knight Co now owns 57,214 shares of the medical research company’s stock worth $5,612,000 after acquiring an additional 164 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in PerkinElmer by 23.8% during the 4th quarter. Quadrant Capital Group LLC now owns 885 shares of the medical research company’s stock worth $83,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.
NYSE:PKI opened at $118.91 on Friday. The firm has a market cap of $13.24 billion, a P/E ratio of 45.21, a P/E/G ratio of 1.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.30 and a current ratio of 1.85. PerkinElmer, Inc. has a fifty-two week low of $62.91 and a fifty-two week high of $121.44. The firm has a 50-day simple moving average of $102.67 and a two-hundred day simple moving average of $92.32.
PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.87. The business had revenue of $811.91 million during the quarter, compared to analyst estimates of $703.32 million. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. PerkinElmer’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. On average, equities research analysts predict that PerkinElmer, Inc. will post 4.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 16th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. PerkinElmer’s dividend payout ratio is currently 6.83%.
PKI has been the subject of a number of research reports. UBS Group upped their price objective on shares of PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on PerkinElmer from $85.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC started coverage on PerkinElmer in a research report on Monday, July 13th. They set a “hold” rating for the company. Wells Fargo & Co upped their target price on PerkinElmer from $105.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating and set a $105.00 target price on the stock in a report on Thursday, May 28th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $95.13.
In other news, insider Andrew Okun sold 6,699 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $120.00, for a total transaction of $803,880.00. Following the sale, the insider now owns 17,009 shares of the company’s stock, valued at approximately $2,041,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Barrett sold 7,552 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $100.11, for a total transaction of $756,030.72. Following the sale, the director now directly owns 29,552 shares in the company, valued at approximately $2,958,450.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,703 shares of company stock valued at $2,079,050. 0.62% of the stock is owned by company insiders.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
Further Reading: Cost of Equity For A Business, Investors
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