Virginia Retirement Systems ET AL boosted its holdings in shares of PerkinElmer (NYSE:PKI) by 12.3% in the first quarter, Holdings Channel reports. The institutional investor owned 8,200 shares of the medical research company’s stock after purchasing an additional 900 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in PerkinElmer were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of PKI. American Century Companies Inc. purchased a new position in PerkinElmer during the 4th quarter worth approximately $61,260,000. BlackRock Inc. raised its position in PerkinElmer by 3.2% during the 4th quarter. BlackRock Inc. now owns 6,260,111 shares of the medical research company’s stock worth $457,740,000 after buying an additional 195,851 shares during the last quarter. Sensato Investors LLC purchased a new position in PerkinElmer during the 4th quarter worth approximately $12,420,000. AXA purchased a new position in PerkinElmer during the 4th quarter worth approximately $10,712,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in PerkinElmer during the 4th quarter worth approximately $9,142,000. 91.81% of the stock is owned by institutional investors.
PKI has been the subject of a number of recent research reports. ValuEngine raised shares of PerkinElmer from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Thursday. Robert W. Baird reissued a “buy” rating and set a $88.00 price target on shares of PerkinElmer in a research report on Friday, January 26th. Cowen reissued a “hold” rating and set a $84.00 price target on shares of PerkinElmer in a research report on Friday, January 26th. Finally, Morgan Stanley raised their price target on shares of PerkinElmer from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $77.36.
PerkinElmer opened at $75.47 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market cap of $8.23 billion, a PE ratio of 24.80, a PEG ratio of 1.71 and a beta of 0.84. PerkinElmer has a 1-year low of $61.50 and a 1-year high of $84.49.
PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, April 30th. The medical research company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $644.00 million during the quarter, compared to analyst estimates of $618.97 million. PerkinElmer had a net margin of 11.73% and a return on equity of 13.26%. The business’s quarterly revenue was up 0 on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. analysts expect that PerkinElmer will post 3.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Thursday, July 19th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.
In related news, insider Frank Anders Wilson sold 103,656 shares of the business’s stock in a transaction on Monday, March 5th. The shares were 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 owns 93,624 shares of the company’s stock, valued at approximately $6,922,558.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel R. Tereau sold 1,156 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $77.00, for a total transaction of $89,012.00. Following the completion of the sale, the insider now directly owns 6,784 shares of the company’s stock, valued at approximately $522,368. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.
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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