Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 43.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,862 shares of the medical research company’s stock after purchasing an additional 1,786 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PerkinElmer were worth $429,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PKI. Assenagon Asset Management S.A. acquired a new stake in shares of PerkinElmer during the third quarter valued at about $23,168,000. Robecosam AG boosted its stake in shares of PerkinElmer by 165.7% during the third quarter. Robecosam AG now owns 477,167 shares of the medical research company’s stock valued at $32,610,000 after purchasing an additional 297,595 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PerkinElmer by 135.0% during the third quarter. Russell Investments Group Ltd. now owns 250,350 shares of the medical research company’s stock valued at $17,268,000 after purchasing an additional 143,822 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of PerkinElmer by 9.9% during the third quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock valued at $65,923,000 after purchasing an additional 86,395 shares in the last quarter. Finally, First Quadrant L P CA acquired a new stake in shares of PerkinElmer during the fourth quarter valued at about $6,173,000. 90.41% of the stock is currently owned by hedge funds and other institutional investors.
PKI has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Evercore ISI initiated coverage on PerkinElmer in a research note on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price target on the stock. Robert W. Baird reissued a “buy” rating and set a $88.00 price target on shares of PerkinElmer in a research note on Friday, January 26th. Cowen restated a “hold” rating and set a $84.00 price objective 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 price objective for the company in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.85.
PerkinElmer, Inc. (NYSE:PKI) opened at $76.39 on Friday. PerkinElmer, Inc. has a 1 year low of $53.97 and a 1 year high of $84.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.90 and a current ratio of 1.27. The stock has a market capitalization of $8,420.00, a PE ratio of 54.18, a PEG ratio of 1.77 and a beta of 0.76.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The company had revenue of $641.63 million during the quarter, compared to the consensus estimate of $619.14 million. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. research analysts predict that PerkinElmer, Inc. will post 3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. PerkinElmer’s payout ratio is currently 19.86%.
In other PerkinElmer news, insider Andrew Okun sold 12,680 shares of PerkinElmer stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $72.00, for a total value of $912,960.00. Following the completion of the sale, the insider now directly owns 25,121 shares in the company, valued at $1,808,712. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexis P. Michas sold 5,000 shares of PerkinElmer 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. Over the last quarter, insiders sold 59,812 shares of company stock valued at $4,263,863. 2.20% of the stock is currently 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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