Bank of America Corp DE reduced its stake in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 621,750 shares of the medical research company's stock after selling 8,833 shares during the quarter. Bank of America Corp DE owned 0.49% of PerkinElmer worth $108,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKI. Allworth Financial LP grew its position in PerkinElmer by 14,100.0% during the first quarter. Allworth Financial LP now owns 284 shares of the medical research company's stock worth $50,000 after buying an additional 282 shares during the period. Covestor Ltd grew its position in PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company's stock worth $63,000 after buying an additional 72 shares during the period. MV Capital Management Inc. grew its position in PerkinElmer by 1,085.1% during the first quarter. MV Capital Management Inc. now owns 557 shares of the medical research company's stock worth $97,000 after buying an additional 510 shares during the period. Ellevest Inc. grew its position in PerkinElmer by 35.3% during the first quarter. Ellevest Inc. now owns 716 shares of the medical research company's stock worth $125,000 after buying an additional 187 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in shares of PerkinElmer by 128.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 765 shares of the medical research company's stock valued at $133,000 after purchasing an additional 430 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on PKI shares. The Goldman Sachs Group lowered their price target on shares of PerkinElmer from $200.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. Barclays lowered their price target on shares of PerkinElmer from $149.00 to $140.00 and set an "underweight" rating on the stock in a research report on Monday, September 12th. Bank of America lowered shares of PerkinElmer from a "buy" rating to a "neutral" rating and set a $178.00 price target on the stock. in a research report on Tuesday, August 2nd. UBS Group started coverage on shares of PerkinElmer in a research report on Wednesday, July 20th. They issued a "buy" rating and a $160.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of PerkinElmer from a "buy" rating to a "hold" rating and lowered their price target for the company from $190.00 to $170.00 in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.50.

Insiders Place Their Bets

In other PerkinElmer news, insider Andrew Okun sold 3,173 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the transaction, the insider now owns 6,391 shares of the company's stock, valued at $1,057,199.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Daniel R. Tereau sold 5,700 shares of the firm's stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the sale, the insider now directly owns 13,380 shares of the company's stock, valued at approximately $1,941,973.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew Okun sold 3,173 shares of the firm's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the sale, the insider now directly owns 6,391 shares of the company's stock, valued at $1,057,199.22. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

PerkinElmer Stock Performance

Shares of PKI opened at $122.31 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 2.02. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 0.35 and a beta of 1.14. PerkinElmer, Inc. has a 1 year low of $120.12 and a 1 year high of $203.16. The company's 50 day simple moving average is $142.81 and its 200 day simple moving average is $150.09.

PerkinElmer (NYSE:PKI – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.29. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. PerkinElmer's revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. On average, sell-side analysts predict that PerkinElmer, Inc. will post 7.83 EPS for the current year.

PerkinElmer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Shareholders of record on Friday, October 21st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, October 20th. PerkinElmer's dividend payout ratio is currently 5.24%.

About PerkinElmer

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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