Neuburgh Advisers LLC boosted its position in PerkinElmer, Inc. (NYSE:PKI) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,160 shares of the medical research company’s stock after purchasing an additional 306 shares during the quarter. Neuburgh Advisers LLC’s holdings in PerkinElmer were worth $786,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PKI. Quadrant Capital Group LLC bought a new stake in PerkinElmer during the first quarter worth about $25,000. Amica Retiree Medical Trust purchased a new position in shares of PerkinElmer during the second quarter valued at approximately $48,000. Coastal Capital Group Inc. purchased a new position in shares of PerkinElmer during the second quarter valued at approximately $58,000. Signaturefd LLC boosted its position in shares of PerkinElmer by 171.5% in the 1st quarter. Signaturefd LLC now owns 809 shares of the medical research company’s stock worth $78,000 after purchasing an additional 511 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of PerkinElmer in the 2nd quarter worth approximately $78,000. 95.19% of the stock is owned by institutional investors and hedge funds.
PKI traded up $0.88 during trading on Wednesday, hitting $86.38. 23,646 shares of the company’s stock traded hands, compared to its average volume of 578,512. The company’s 50 day simple moving average is $84.45 and its two-hundred day simple moving average is $91.49. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. PerkinElmer, Inc. has a 12-month low of $71.83 and a 12-month high of $103.00. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.49 and a beta of 1.29.
PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, July 29th. The medical research company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a return on equity of 16.07% and a net margin of 9.01%. The business had revenue of $722.50 million during the quarter, compared to the consensus estimate of $729.10 million. During the same period in the previous year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts expect that PerkinElmer, Inc. will post 4.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.32%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.76%.
A number of research analysts recently weighed in on PKI shares. Wolfe Research started coverage on PerkinElmer in a research report on Thursday, May 30th. They set a “peer perform” rating for the company. Wood & Company reissued an “average” rating and issued a $49.00 target price on shares of PerkinElmer in a report on Friday, July 19th. Raymond James began coverage on PerkinElmer in a report on Wednesday, July 10th. They issued an “outperform” rating on the stock. ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Thursday, May 30th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.23.
In related news, Director Alexis P. Michas sold 2,000 shares of PerkinElmer stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $82.56, for a total value of $165,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.
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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