Advisors Asset Management Inc. grew its holdings in PerkinElmer, Inc. (NYSE:PKI) by 12.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,689 shares of the medical research company’s stock after buying an additional 5,308 shares during the period. Advisors Asset Management Inc.’s holdings in PerkinElmer were worth $2,912,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of PKI. Twin Tree Management LP boosted its stake in shares of PerkinElmer by 135.8% during the 2nd quarter. Twin Tree Management LP now owns 2,549 shares of the medical research company’s stock worth $187,000 after purchasing an additional 9,674 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of PerkinElmer during the 1st quarter worth about $203,000. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. purchased a new position in shares of PerkinElmer during the 1st quarter worth about $204,000. Janney Montgomery Scott LLC purchased a new position in shares of PerkinElmer during the 2nd quarter worth about $249,000. Finally, Oakbrook Investments LLC purchased a new position in shares of PerkinElmer during the 2nd quarter worth about $300,000. 95.78% of the stock is owned by institutional investors and hedge funds.
In related news, Director Nicholas A. Lopardo sold 2,700 shares of PerkinElmer stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $92.28, for a total transaction of $249,156.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 34,608 shares of PerkinElmer stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $2,941,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,177 shares of company stock valued at $5,826,167 in the last quarter. 2.10% of the stock is currently owned by company insiders.
Shares of PKI opened at $96.81 on Thursday. PerkinElmer, Inc. has a 1-year low of $67.83 and a 1-year high of $97.58. The stock has a market cap of $10.66 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.17.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Wednesday, August 1st. The medical research company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. PerkinElmer had a net margin of 5.51% and a return on equity of 14.25%. The company had revenue of $703.55 million during the quarter, compared to analyst estimates of $694.70 million. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. research analysts forecast that PerkinElmer, Inc. will post 3.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. PerkinElmer’s payout ratio is 9.66%.
A number of equities analysts recently commented on PKI shares. Robert W. Baird reaffirmed a “buy” rating and set a $89.00 price target on shares of PerkinElmer in a research note on Thursday, August 2nd. ValuEngine raised shares of PerkinElmer from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Cleveland Research raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th. Barclays raised shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $79.00 to $90.00 in a research note on Wednesday, September 5th. Finally, Deutsche Bank lifted their price target on shares of PerkinElmer from $88.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, September 10th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $84.34.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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