Franklin Resources Inc. cut its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,647 shares of the medical research company’s stock after selling 406 shares during the period. Franklin Resources Inc.’s holdings in PerkinElmer were worth $347,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of PerkinElmer by 6.8% in the fourth quarter. State Street Corp now owns 3,792,638 shares of the medical research company’s stock worth $197,792,000 after buying an additional 241,465 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of PerkinElmer by 11.5% in the third quarter. Victory Capital Management Inc. now owns 3,425,679 shares of the medical research company’s stock worth $192,215,000 after buying an additional 351,986 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of PerkinElmer by 4.3% in the third quarter. BlackRock Fund Advisors now owns 1,818,357 shares of the medical research company’s stock worth $102,028,000 after buying an additional 74,420 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of PerkinElmer by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 1,019,942 shares of the medical research company’s stock worth $57,229,000 after buying an additional 38,503 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of PerkinElmer by 111.5% in the third quarter. Ameriprise Financial Inc. now owns 988,344 shares of the medical research company’s stock worth $55,459,000 after buying an additional 520,979 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.
PerkinElmer, Inc. (NYSE:PKI) traded down 0.03% on Friday, hitting $57.22. The stock had a trading volume of 648,085 shares. PerkinElmer, Inc. has a one year low of $45.35 and a one year high of $58.40. The company’s 50-day moving average price is $56.90 and its 200 day moving average price is $53.79. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 26.88 and a beta of 0.80.
A number of brokerages have recently commented on PKI. Cantor Fitzgerald set a $60.00 target price on PerkinElmer and gave the stock a “buy” rating in a research note on Sunday, December 25th. Citigroup Inc increased their price target on PerkinElmer from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, April 7th. Bank of America Corp downgraded PerkinElmer from a “neutral” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research report on Friday, February 3rd. Zacks Investment Research raised PerkinElmer from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Finally, Janney Montgomery Scott raised PerkinElmer from a “neutral” rating to a “buy” rating in a report on Monday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and an average price target of $57.09.
In other PerkinElmer news, insider Daniel R. Tereau sold 4,069 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $52.01, for a total value of $211,628.69. Following the sale, the insider now directly owns 9,465 shares in the company, valued at approximately $492,274.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 5,001 shares of the firm’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $53.16, for a total transaction of $265,853.16. Following the completion of the sale, the insider now owns 12,147 shares in the company, valued at $645,734.52. The disclosure for this sale can be found here. Insiders sold a total of 68,972 shares of company stock worth $3,789,481 in the last quarter. Insiders own 2.30% of the company’s stock.
About PerkinElmer
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
