Stone Ridge Asset Management LLC acquired a new position in PerkinElmer (NYSE:PKI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,189 shares of the medical research company’s stock, valued at approximately $1,257,000.
A number of other institutional investors and hedge funds also recently modified their holdings of PKI. Comerica Bank increased its stake in shares of PerkinElmer by 3.0% during the fourth quarter. Comerica Bank now owns 26,881 shares of the medical research company’s stock valued at $2,189,000 after purchasing an additional 772 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of PerkinElmer by 53.8% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock valued at $170,000 after acquiring an additional 779 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of PerkinElmer by 9.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,963 shares of the medical research company’s stock valued at $618,000 after acquiring an additional 788 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of PerkinElmer by 2.8% during the third quarter. Nationwide Fund Advisors now owns 31,430 shares of the medical research company’s stock valued at $2,168,000 after acquiring an additional 851 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings in PerkinElmer by 8.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 11,825 shares of the medical research company’s stock worth $865,000 after purchasing an additional 947 shares during the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
In other news, insider Andrew Okun sold 2,273 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $77.86, for a total value of $176,975.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Anders Wilson sold 103,656 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $73.94, for a total transaction of $7,664,324.64. Following the completion of the sale, the insider now directly owns 93,624 shares of the company’s stock, valued at approximately $6,922,558.56. The disclosure for this sale can be found here. Insiders have sold a total of 108,253 shares of company stock worth $8,016,623 over the last quarter. 2.10% of the stock is currently owned by insiders.
Several brokerages recently issued reports on PKI. Bank of America upgraded shares of PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 target price on the stock in a report on Tuesday, December 19th. Zacks Investment Research cut shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Barclays lifted their price target on shares of PerkinElmer from $69.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Cowen reiterated a “hold” rating and set a $84.00 price target on shares of PerkinElmer in a research note on Friday, January 26th. Finally, Robert W. Baird reiterated a “buy” rating and set a $88.00 price target on shares of PerkinElmer in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $76.85.
Shares of PerkinElmer stock traded down $2.70 during trading hours on Friday, reaching $73.20. The company’s stock had a trading volume of 511,587 shares, compared to its average volume of 667,119. PerkinElmer has a one year low of $56.21 and a one year high of $84.49. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.71. The company has a market cap of $8,387.28, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.81.
PerkinElmer (NYSE:PKI) last posted its earnings results on Thursday, January 25th. The medical research company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $641.63 million for the quarter, compared to the consensus estimate of $619.14 million. PerkinElmer had a net margin of 12.97% and a return on equity of 13.30%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. sell-side analysts expect that PerkinElmer will post 3.52 earnings per share for the current fiscal year.
The company 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 dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.28 annualized dividend and a yield of 0.38%. PerkinElmer’s payout ratio is 9.66%.
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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment develops and offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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