Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 43.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,862 shares of the medical research company’s stock after acquiring 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 filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKI. Cutler Group LP boosted its stake in PerkinElmer by 845.7% during the 4th quarter. Cutler Group LP now owns 2,237 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 2,537 shares during the period. Waldron LP bought a new stake in PerkinElmer during the 3rd quarter valued at approximately $200,000. Seaward Management Limited Partnership bought a new stake in PerkinElmer during the 3rd quarter valued at approximately $202,000. Howe & Rusling Inc. bought a new stake in PerkinElmer during the 4th quarter valued at approximately $234,000. Finally, Cubist Systematic Strategies LLC bought a new stake in PerkinElmer during the 2nd quarter valued at approximately $269,000. Institutional investors own 90.06% of the company’s stock.
In other news, insider Andrew Okun sold 12,680 shares of the 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 transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at approximately $1,808,712. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Anders Wilson sold 37,535 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $70.14, for a total value of $2,632,704.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,812 shares of company stock valued at $4,263,863. 2.20% of the stock is currently owned by insiders.
Shares of PerkinElmer, Inc. (PKI) traded up $1.08 during mid-day trading on Friday, hitting $77.02. The company’s stock had a trading volume of 374,181 shares, compared to its average volume of 760,766. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 0.90. PerkinElmer, Inc. has a 52 week low of $53.97 and a 52 week high of $84.49. The company has a market cap of $8,490.00, a P/E ratio of 54.62, a P/E/G ratio of 1.75 and a beta of 0.76.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 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 quarter last year, the company earned $0.83 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. equities analysts expect that PerkinElmer, Inc. will post 3.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders 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 dividend yield of 0.36%. PerkinElmer’s payout ratio is presently 19.86%.
Several analysts recently weighed in on PKI shares. Robert W. Baird increased their target price on PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. 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 research note on Monday, January 8th. Morgan Stanley increased their target price on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Cowen restated a “hold” rating and set a $84.00 target price on shares of PerkinElmer in a research note on Friday, January 26th. Finally, Bank of America upgraded PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 target price for the company in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $76.85.
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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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