Paradigm Capital Management Inc. NY lessened its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,300 shares of the medical research company’s stock after selling 2,100 shares during the period. Paradigm Capital Management Inc. NY owned 0.07% of PerkinElmer worth $5,676,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its stake in PerkinElmer by 185.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 1,300 shares in the last quarter. LS Investment Advisors LLC grew its stake in PerkinElmer by 2.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 60 shares in the last quarter. Carret Asset Management LLC purchased a new position in shares of PerkinElmer during the 2nd quarter worth approximately $210,000. Cipher Capital LP purchased a new position in shares of PerkinElmer during the 2nd quarter worth approximately $230,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PerkinElmer by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,870 shares of the medical research company’s stock worth $264,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 91.38% of the company’s stock.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 24,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $70.72, for a total value of $1,700,816.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on PKI shares. Robert W. Baird reiterated a “buy” rating and set a $72.00 target price on shares of PerkinElmer in a report on Friday, October 20th. Citigroup Inc. raised their price objective on shares of PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Piper Jaffray Companies reissued a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a research report on Friday, August 4th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, August 1st. Finally, Cowen and Company restated a “hold” rating and set a $70.00 target price on shares of PerkinElmer in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $68.64.
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Shares of PerkinElmer, Inc. (PKI) traded down $0.13 during mid-day trading on Friday, reaching $71.33. The company had a trading volume of 1,027,600 shares, compared to its average volume of 575,442. The firm has a market capitalization of $7,862.35, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77. PerkinElmer, Inc. has a 1 year low of $49.72 and a 1 year high of $73.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 2.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, January 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. PerkinElmer’s payout ratio is currently 7.78%.
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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