Nissay Asset Management Corp Japan ADV lifted its stake in PerkinElmer, Inc. (NYSE:PKI) by 12.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,253 shares of the medical research company’s stock after purchasing an additional 1,233 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in PerkinElmer were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its stake in PerkinElmer by 0.7% during the 1st quarter. BlackRock Inc. now owns 7,143,952 shares of the medical research company’s stock valued at $537,797,000 after purchasing an additional 53,093 shares during the period. State Street Corp raised its stake in PerkinElmer by 1.5% during the 1st quarter. State Street Corp now owns 4,495,084 shares of the medical research company’s stock valued at $338,390,000 after purchasing an additional 64,686 shares during the period. Geode Capital Management LLC raised its stake in PerkinElmer by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 1,790,483 shares of the medical research company’s stock valued at $134,535,000 after purchasing an additional 31,603 shares during the period. Impax Asset Management Group plc raised its stake in PerkinElmer by 9.4% during the 1st quarter. Impax Asset Management Group plc now owns 1,220,393 shares of the medical research company’s stock valued at $91,871,000 after purchasing an additional 104,631 shares during the period. Finally, Echo Street Capital Management LLC raised its stake in PerkinElmer by 38.6% during the 1st quarter. Echo Street Capital Management LLC now owns 998,509 shares of the medical research company’s stock valued at $75,168,000 after purchasing an additional 277,968 shares during the period. 93.34% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on PKI. Stifel Nicolaus lifted their target price on PerkinElmer from $95.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating and set a $105.00 target price for the company in a report on Thursday, May 28th. Wells Fargo & Co boosted their price objective on PerkinElmer from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on PerkinElmer from $85.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $95.13.
In other news, insider Andrew Okun sold 6,699 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total value of $803,880.00. Following the sale, the insider now owns 17,009 shares in the company, valued at $2,041,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Barrett sold 7,552 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $100.11, for a total value of $756,030.72. Following the completion of the sale, the director now owns 29,552 shares in the company, valued at approximately $2,958,450.72. The disclosure for this sale can be found here. Insiders sold 19,703 shares of company stock worth $2,079,050 in the last 90 days. Company insiders own 0.62% of the company’s stock.
PerkinElmer stock opened at $118.91 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.30 and a current ratio of 1.85. The business’s 50-day simple moving average is $102.67 and its two-hundred day simple moving average is $92.32. The company has a market cap of $13.23 billion, a PE ratio of 45.21, a PEG ratio of 1.42 and a beta of 1.37. PerkinElmer, Inc. has a fifty-two week low of $62.91 and a fifty-two week high of $121.44.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.87. PerkinElmer had a return on equity of 18.41% and a net margin of 9.87%. The business had revenue of $811.91 million for the quarter, compared to the consensus estimate of $703.32 million. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that PerkinElmer, Inc. will post 4.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. PerkinElmer’s payout ratio is 6.83%.
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.
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