Lbmc Investment Advisors LLC reduced its holdings in PerkinElmer, Inc. (NYSE:PKI) by 50.0% in the 1st quarter, HoldingsChannel reports. The fund owned 2,133 shares of the medical research company’s stock after selling 2,133 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in PerkinElmer were worth $206,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC bought a new stake in shares of PerkinElmer in the fourth quarter worth about $25,000. Citizens Financial Group Inc RI bought a new position in shares of PerkinElmer during the fourth quarter worth about $32,000. Penserra Capital Management LLC bought a new position in shares of PerkinElmer during the fourth quarter worth about $35,000. Financial Gravity Wealth Inc. bought a new position in shares of PerkinElmer during the first quarter worth about $52,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of PerkinElmer during the fourth quarter worth about $49,000. Institutional investors own 96.37% of the company’s stock.
In other news, insider Prahlad R. Singh sold 3,289 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $102.39, for a total value of $336,760.71. Following the completion of the sale, the insider now directly owns 28,242 shares of the company’s stock, valued at $2,891,698.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel R. Tereau sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $93.27, for a total value of $111,924.00. Following the completion of the sale, the insider now directly owns 5,839 shares of the company’s stock, valued at $544,603.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,475 shares of company stock valued at $5,910,744. Corporate insiders own 1.80% of the company’s stock.
A number of research analysts recently issued reports on the company. Goldman Sachs Group upgraded PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, April 9th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, January 3rd. CIBC reiterated an “average” rating and set a $44.50 price objective on shares of PerkinElmer in a report on Thursday, January 10th. Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of PerkinElmer in a report on Sunday, January 6th. Finally, Needham & Company LLC assumed coverage on PerkinElmer in a report on Wednesday, January 2nd. They set a “hold” rating and a $79.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.06.
PKI stock opened at $94.08 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 2.04 and a beta of 1.25. PerkinElmer, Inc. has a twelve month low of $70.83 and a twelve month high of $103.00.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $648.70 million during the quarter, compared to the consensus estimate of $645.38 million. PerkinElmer had a return on equity of 16.10% and a net margin of 8.89%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. On average, research analysts predict that PerkinElmer, Inc. will post 4.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. PerkinElmer’s dividend payout ratio is 7.76%.
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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