World Asset Management Inc raised its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,009 shares of the medical research company’s stock after buying an additional 1,287 shares during the period. World Asset Management Inc’s holdings in PerkinElmer were worth $639,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Federated Investors Inc. PA raised its position in shares of PerkinElmer by 158.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,997 shares of the medical research company’s stock valued at $156,000 after buying an additional 1,837 shares in the last quarter. LS Investment Advisors LLC raised its stake in PerkinElmer by 36.9% in the first quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock valued at $164,000 after buying an additional 759 shares during the period. Pacad Investment Ltd. purchased a new stake in PerkinElmer during the fourth quarter valued at $198,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PerkinElmer by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,552 shares of the medical research company’s stock valued at $199,000 after buying an additional 440 shares during the period. Finally, Cigna Investments Inc. New purchased a new stake in PerkinElmer during the fourth quarter valued at $208,000. Institutional investors and hedge funds own 92.70% of the company’s stock.
PerkinElmer, Inc. (NYSE PKI) opened at 63.57 on Friday. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $65.35. The firm has a market capitalization of $7.00 billion, a PE ratio of 30.99 and a beta of 0.73. The stock has a 50 day moving average of $62.63 and a 200 day moving average of $56.70.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $514.12 million during the quarter, compared to the consensus estimate of $506.81 million. PerkinElmer had a return on equity of 13.97% and a net margin of 10.24%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. On average, equities analysts predict that PerkinElmer, Inc. will post $2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 21st will be issued a $0.07 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. PerkinElmer’s dividend payout ratio is presently 13.66%.
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A number of research analysts recently weighed in on PKI shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of PerkinElmer in a research report on Monday, May 15th. BidaskClub downgraded shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald downgraded shares of PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, April 19th. Citigroup Inc. lifted their price objective on shares of PerkinElmer from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Finally, Janney Montgomery Scott raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.30.
In related news, Director Peter Barrett sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total value of $632,200.00. Following the transaction, the director now directly owns 29,200 shares of the company’s stock, valued at approximately $1,846,024. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick J. Sullivan sold 6,628 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $62.59, for a total value of $414,846.52. Following the completion of the transaction, the director now directly owns 42,951 shares in the company, valued at $2,688,303.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,565 shares of company stock worth $10,228,809. 2.20% of the stock is owned by insiders.
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.
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