ETRADE Capital Management LLC acquired a new stake in PerkinElmer, Inc. (NYSE:PKI) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,419 shares of the medical research company’s stock, valued at approximately $305,000.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of PerkinElmer by 2.6% during the second quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock valued at $741,816,000 after acquiring an additional 273,975 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in PerkinElmer in the second quarter worth $436,483,000. BlackRock Inc. grew its stake in PerkinElmer by 2.4% in the second quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after purchasing an additional 141,650 shares during the period. Pictet Asset Management Ltd. grew its stake in PerkinElmer by 2.1% in the second quarter. Pictet Asset Management Ltd. now owns 3,433,659 shares of the medical research company’s stock worth $216,526,000 after purchasing an additional 71,540 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in PerkinElmer by 9.9% in the third quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock worth $65,923,000 after purchasing an additional 86,395 shares during the period. Hedge funds and other institutional investors own 91.66% of the company’s stock.
Shares of PerkinElmer, Inc. (PKI) traded down $3.34 during trading on Tuesday, hitting $69.78. The stock had a trading volume of 879,800 shares, compared to its average volume of 632,494. The stock has a market cap of $8,059.67, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. PerkinElmer, Inc. has a 12-month low of $50.59 and a 12-month high of $74.11.
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 issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is 7.78%.
A number of equities research analysts have recently commented on PKI shares. Morgan Stanley increased their target price on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Robert W. Baird increased their price objective on PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Citigroup increased their price objective on PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group reaffirmed a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. PerkinElmer has a consensus rating of “Hold” and an average target price of $68.64.
In related news, Director Peter Barrett sold 7,071 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $71.07, for a total transaction of $502,535.97. Following the completion of the sale, the director now directly owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $73.18, for a total value of $365,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 36,121 shares of company stock valued at $2,569,252 over the last three months. 2.20% of the stock is owned by corporate insiders.
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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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