Stone Ridge Asset Management LLC purchased a new position in shares of PerkinElmer, Inc. (NYSE:PKI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,189 shares of the medical research company’s stock, valued at approximately $1,257,000.
Several other institutional investors have also modified their holdings of the business. Cutler Group LP increased its holdings in shares of PerkinElmer by 845.7% during the 4th quarter. Cutler Group LP now owns 2,237 shares of the medical research company’s stock worth $163,000 after buying an additional 2,537 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of PerkinElmer by 53.8% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock worth $170,000 after buying an additional 779 shares during the last quarter. Waldron LP acquired a new stake in shares of PerkinElmer during the 3rd quarter worth $200,000. Seaward Management Limited Partnership acquired a new stake in shares of PerkinElmer during the 3rd quarter worth $202,000. Finally, Signition LP acquired a new stake in shares of PerkinElmer during the 4th quarter worth $207,000. 91.94% of the stock is currently owned by institutional investors.
Shares of PerkinElmer, Inc. (PKI) opened at $77.60 on Friday. PerkinElmer, Inc. has a twelve month low of $55.55 and a twelve month high of $84.49. The stock has a market capitalization of $8,518.78, a price-to-earnings ratio of 26.40, a P/E/G ratio of 1.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.26 and a quick ratio of 0.89.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, January 25th. The medical research company reported $0.97 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $641.63 million during the quarter, compared to the consensus estimate of $619.14 million. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. equities 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. Investors 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 annualized dividend and a yield of 0.36%. PerkinElmer’s dividend payout ratio is currently 10.61%.
A number of analysts have recently commented on PKI shares. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America upgraded PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 price objective for the company in a report on Tuesday, December 19th. Evercore ISI started coverage on PerkinElmer in a report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price objective for the company. 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 report on Monday, January 8th. Finally, Robert W. Baird restated a “buy” rating and set a $88.00 price objective on shares of PerkinElmer in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.85.
In related news, insider Frank Anders Wilson sold 103,656 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $73.94, for a total value of $7,664,324.64. Following the completion of the sale, the insider now directly owns 93,624 shares in the company, valued at approximately $6,922,558.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Okun sold 2,324 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $75.44, for a total value of $175,322.56. Following the completion of the sale, the insider now owns 8,876 shares of the company’s stock, valued at $669,605.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,253 shares of company stock valued at $8,016,623. 2.20% of the stock is owned by 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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