Sandy Spring Bank trimmed its stake in PerkinElmer, Inc. (NYSE:PKI) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,174 shares of the medical research company’s stock after selling 450 shares during the period. Sandy Spring Bank’s holdings in PerkinElmer were worth $2,737,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKI. Envestnet Asset Management Inc. raised its position in shares of PerkinElmer by 28.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock worth $115,000 after acquiring an additional 434 shares in the last quarter. Twin Tree Management LP bought a new position in shares of PerkinElmer in the 1st quarter worth $122,000. Ameritas Investment Partners Inc. bought a new position in shares of PerkinElmer in the 1st quarter worth $152,000. LS Investment Advisors LLC raised its position in shares of PerkinElmer by 36.9% in the 1st quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after acquiring an additional 759 shares in the last quarter. Finally, Harvest Management LLC bought a new position in shares of PerkinElmer in the 1st quarter worth $201,000. 91.69% of the stock is owned by hedge funds and other institutional investors.
Shares of PerkinElmer, Inc. (PKI) traded up 0.52% during trading on Friday, hitting $69.08. The company’s stock had a trading volume of 1,078,409 shares. The company has a 50-day moving average price of $65.89 and a 200-day moving average price of $62.89. The stock has a market cap of $7.61 billion, a PE ratio of 20.83 and a beta of 0.74. PerkinElmer, Inc. has a one year low of $45.35 and a one year high of $70.16.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 EPS. Equities analysts predict that PerkinElmer, Inc. will post $2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is 8.46%.
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In other news, insider Andrew Okun sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction of $283,270.00. Following the sale, the insider now owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.
Several research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $69.00 price target (up from $58.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. BidaskClub lowered PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a research report on Friday, August 4th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $70.00 target price (up from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.00.
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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