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PerkinElmer, Inc. (NYSE:PKI) Stock Holdings Cut by Steigerwald Gordon & Koch Inc.

Financial News Live · Sep 22, 2022 13:01

Steigerwald Gordon & Koch Inc. decreased its holdings in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,240 shares of the medical research company's stock after selling 142 shares during the quarter. PerkinElmer comprises about 2.7% of Steigerwald Gordon & Koch Inc.'s investment portfolio, making the stock its 8th largest position. Steigerwald Gordon & Koch Inc.'s holdings in PerkinElmer were worth $15,678,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Allworth Financial LP increased 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 valued at $50,000 after acquiring an additional 282 shares during the last quarter. Covestor Ltd increased its position in PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company's stock valued at $63,000 after acquiring an additional 72 shares during the last quarter. MV Capital Management Inc. increased 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 valued at $97,000 after acquiring an additional 510 shares during the last quarter. Ellevest Inc. increased its position in PerkinElmer by 35.3% during the first quarter. Ellevest Inc. now owns 716 shares of the medical research company's stock valued at $125,000 after acquiring an additional 187 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in PerkinElmer by 128.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 765 shares of the medical research company's stock valued at $133,000 after acquiring an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

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Insider Transactions at PerkinElmer

In other news, insider Andrew Okun sold 3,173 shares of the firm's 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 sale, the insider now owns 6,391 shares of the company's stock, valued at approximately $1,057,199.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Andrew Okun sold 3,173 shares of PerkinElmer stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total value of $524,877.66. Following the sale, the insider now owns 6,391 shares of the company's stock, valued at approximately $1,057,199.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel R. Tereau sold 5,700 shares of PerkinElmer 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 in the company, valued at approximately $1,941,973.20. The disclosure for this sale can be found here. Insiders have sold 13,898 shares of company stock valued at $2,083,263 in the last 90 days. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PKI has been the topic of a number of analyst reports. Stifel Nicolaus cut shares of PerkinElmer from a "buy" rating to a "hold" rating and cut their price objective for the company from $190.00 to $170.00 in a research report on Thursday, August 18th. Credit Suisse Group assumed coverage on shares of PerkinElmer in a report on Wednesday, August 24th. They issued a "neutral" rating and a $175.00 price target on the stock. 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 report on Monday, September 12th. UBS Group assumed coverage on shares of PerkinElmer in a report on Wednesday, July 20th. They issued a "buy" rating and a $160.00 price target on the stock. Finally, Bank of America lowered shares of PerkinElmer from a "buy" rating to a "neutral" rating and set a $178.00 price objective for the company. in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $162.50.

PerkinElmer Stock Down 1.4 %

Shares of PKI stock traded down $1.81 during mid-day trading on Thursday, hitting $124.14. 10,220 shares of the stock traded hands, compared to its average volume of 672,207. The stock has a market cap of $15.67 billion, a P/E ratio of 23.59, a P/E/G ratio of 0.35 and a beta of 1.14. The stock's fifty day moving average is $143.28 and its two-hundred day moving average is $150.73. PerkinElmer, Inc. has a 52-week low of $125.52 and a 52-week high of $203.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.42.

PerkinElmer (NYSE:PKI – Get Rating) last released its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.01 by $0.31. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 earnings per share. Equities analysts predict that PerkinElmer, Inc. will post 7.83 EPS for the current year.

PerkinElmer Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, October 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. PerkinElmer's payout ratio is 5.24%.

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.