Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 443,544 shares of the medical research company’s stock after selling 5,353 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.40% of PerkinElmer worth $43,507,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of PKI. Norges Bank acquired a new position in shares of PerkinElmer during the 4th quarter worth approximately $80,020,000. Echo Street Capital Management LLC boosted its holdings in shares of 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 worth $75,168,000 after purchasing an additional 277,968 shares during the last quarter. Alta Capital Management LLC boosted its holdings in shares of PerkinElmer by 102.5% during the 1st quarter. Alta Capital Management LLC now owns 398,551 shares of the medical research company’s stock worth $30,002,000 after purchasing an additional 201,719 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of PerkinElmer by 373.5% during the 1st quarter. First Trust Advisors LP now owns 243,922 shares of the medical research company’s stock worth $18,362,000 after purchasing an additional 192,405 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its holdings in shares of PerkinElmer by 34.4% during the 1st quarter. Cannell Peter B & Co. Inc. now owns 417,097 shares of the medical research company’s stock worth $31,399,000 after purchasing an additional 106,687 shares during the last quarter. Institutional investors and hedge funds own 93.34% of the company’s stock.
Several research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on PerkinElmer from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upped their price objective on PerkinElmer from $70.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Cfra upgraded PerkinElmer from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group upped 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, Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating and set a $105.00 price objective on the stock in a report on Thursday, May 28th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and a consensus price target of $95.13.
Shares of NYSE PKI opened at $118.91 on Friday. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 1.42 and a beta of 1.37. The company has a quick ratio of 1.30, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. PerkinElmer, Inc. has a 52-week low of $62.91 and a 52-week high of $121.44. The business’s 50 day moving average is $102.67 and its two-hundred day moving average is $92.32.
PerkinElmer (NYSE:PKI) last announced its earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.87. PerkinElmer had a return on equity of 18.41% and a net margin of 9.87%. The company had revenue of $811.91 million for the quarter, compared to analyst estimates of $703.32 million. During the same quarter in the previous year, the company earned $1.00 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that PerkinElmer, Inc. will post 4.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, October 15th. PerkinElmer’s dividend payout ratio is currently 6.83%.
In other news, insider Andrew Okun sold 6,699 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was 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 $2,041,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Barrett sold 7,552 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $100.11, for a total value 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. Insiders have sold 19,703 shares of company stock worth $2,079,050 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
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.
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