Private Advisor Group LLC lifted its position in PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,156 shares of the medical research company's stock after purchasing an additional 776 shares during the quarter. Private Advisor Group LLC's holdings in PerkinElmer were worth $591,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in PKI. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in PerkinElmer by 20.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,267 shares of the medical research company's stock worth $1,176,000 after acquiring an additional 1,430 shares during the last quarter. Wedmont Private Capital grew its holdings in PerkinElmer by 48.1% during the 2nd quarter. Wedmont Private Capital now owns 2,481 shares of the medical research company's stock worth $353,000 after acquiring an additional 806 shares during the last quarter. DnB Asset Management AS grew its holdings in PerkinElmer by 8.7% during the 2nd quarter. DnB Asset Management AS now owns 25,482 shares of the medical research company's stock worth $3,624,000 after acquiring an additional 2,033 shares during the last quarter. Moody National Bank Trust Division acquired a new position in PerkinElmer during the 2nd quarter valued at about $208,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in PerkinElmer by 14.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,704 shares of the medical research company's stock valued at $5,008,000 after purchasing an additional 3,595 shares during the period. Institutional investors own 77.06% of the company's stock.
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Insider Transactions at PerkinElmer
In other news, insider Daniel R. Tereau sold 5,700 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 13,380 shares of the company's stock, valued at approximately $1,941,973.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Daniel R. Tereau sold 5,700 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 13,380 shares of the company's stock, valued at approximately $1,941,973.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, 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. Company insiders own 0.52% of the company's stock.
PerkinElmer Stock Performance
Shares of PKI stock opened at $131.35 on Thursday. 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 $16.58 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 0.34 and a beta of 1.15. The company's 50 day moving average price is $139.53 and its two-hundred day moving average price is $147.12. PerkinElmer, Inc. has a 52 week low of $116.18 and a 52 week high of $203.16.
PerkinElmer (NYSE:PKI – Get Rating) last announced its earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.03 by $0.29. The firm 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%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.83 EPS. On average, analysts expect that PerkinElmer, Inc. will post 7.83 earnings per share for the current fiscal year.
PerkinElmer Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Friday, October 21st will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, October 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.21%. PerkinElmer's dividend payout ratio is currently 5.24%.
Wall Street Analysts Forecast Growth
PKI has been the topic of a number of research reports. Stifel Nicolaus downgraded shares of PerkinElmer from a "buy" rating to a "hold" rating and cut their target price for the company from $190.00 to $170.00 in a research report on Thursday, August 18th. Robert W. Baird upped their target price on shares of PerkinElmer from $198.00 to $202.00 and gave the company an "outperform" rating in a research report on Tuesday, August 2nd. The Goldman Sachs Group cut their target price 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 cut 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. Finally, TheStreet downgraded shares of PerkinElmer from a "b" rating to a "c+" rating in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, PerkinElmer has a consensus rating of "Hold" and a consensus price target of $162.50.
PerkinElmer Profile
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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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