PerkinElmer, Inc. (NYSE:PKI) Stake Lowered by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its stake in PerkinElmer, Inc. (NYSE:PKI) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,598 shares of the medical research company’s stock after selling 3,970 shares during the period. First Citizens Bank & Trust Co.’s holdings in PerkinElmer were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PKI. Parametric Portfolio Associates LLC lifted its holdings in PerkinElmer by 9.1% in the third quarter. Parametric Portfolio Associates LLC now owns 231,715 shares of the medical research company’s stock valued at $15,981,000 after acquiring an additional 19,361 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in PerkinElmer by 4.4% in the third quarter. Public Employees Retirement System of Ohio now owns 49,515 shares of the medical research company’s stock valued at $3,415,000 after acquiring an additional 2,098 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of PerkinElmer in the third quarter valued at approximately $297,000. Neuberger Berman Group LLC increased its position in shares of PerkinElmer by 3.1% in the third quarter. Neuberger Berman Group LLC now owns 53,664 shares of the medical research company’s stock valued at $3,701,000 after buying an additional 1,634 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of PerkinElmer by 1.9% in the third quarter. California Public Employees Retirement System now owns 280,665 shares of the medical research company’s stock valued at $19,357,000 after buying an additional 5,165 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

PKI has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Robert W. Baird reiterated a “buy” rating and set a $88.00 price target on shares of PerkinElmer in a research report on Friday, January 26th. Evercore ISI started coverage on PerkinElmer in a research report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price target for the company. Cowen reiterated a “hold” rating and set a $84.00 price target on shares of PerkinElmer in a research report on Friday, January 26th. Finally, Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, ten 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 target price of $76.85.

PerkinElmer, Inc. (PKI) traded down $1.94 on Friday, reaching $78.08. The company had a trading volume of 624,467 shares, compared to its average volume of 673,089. The company has a current ratio of 1.27, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72. The firm has a market cap of $8,820.00, a price-to-earnings ratio of 55.38, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. PerkinElmer, Inc. has a 1 year low of $50.59 and a 1 year high of $84.49.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $554.28 million for the quarter, compared to analyst estimates of $552.38 million. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. research analysts anticipate that PerkinElmer, Inc. will post 3.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s dividend payout ratio is currently 19.86%.

In other news, insider Frank Anders Wilson sold 37,535 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $70.14, for a total value of $2,632,704.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Okun sold 12,680 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $72.00, for a total value of $912,960.00. Following the completion of the transaction, the insider now owns 25,121 shares in the company, valued at approximately $1,808,712. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,336 shares of company stock worth $6,114,917. Company insiders own 2.20% of the company’s stock.

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PerkinElmer Profile

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.

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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