Nikko Asset Management Americas Inc. bought a new stake in shares of PerkinElmer, Inc. (NYSE:PKI) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 46,866 shares of the medical research company’s stock, valued at approximately $4,516,000.
Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC acquired a new stake in shares of PerkinElmer during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC acquired a new stake in shares of PerkinElmer during the 1st quarter valued at about $25,000. Citizens Financial Group Inc RI acquired a new stake in shares of PerkinElmer during the 4th quarter valued at about $32,000. Penserra Capital Management LLC acquired a new stake in shares of PerkinElmer during the 4th quarter valued at about $35,000. Finally, Karp Capital Management Corp acquired a new position in PerkinElmer in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 94.77% of the company’s stock.
Shares of NYSE PKI traded up $0.23 during trading on Friday, reaching $86.36. The company had a trading volume of 806,369 shares, compared to its average volume of 673,319. PerkinElmer, Inc. has a 52 week low of $71.31 and a 52 week high of $103.00. The company has a market cap of $9.55 billion, a PE ratio of 23.92, a P/E/G ratio of 1.52 and a beta of 1.22. The company has a current ratio of 1.68, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.
PerkinElmer (NYSE:PKI) last announced its earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. PerkinElmer had a net margin of 8.89% and a return on equity of 15.98%. The company had revenue of $648.70 million during the quarter, compared to the consensus estimate of $645.38 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that PerkinElmer, Inc. will post 4.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, July 18th. PerkinElmer’s dividend payout ratio (DPR) is 7.76%.
A number of research firms have commented on PKI. Zacks Investment Research lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Royal Bank of Canada restated a “hold” rating and issued a $41.00 price target on shares of PerkinElmer in a research report on Friday, May 3rd. Goldman Sachs Group upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, April 9th. UBS Group set a $92.00 price target on shares of PerkinElmer and gave the company a “hold” rating in a research report on Saturday, February 2nd. Finally, Piper Jaffray Companies boosted their price target on shares of PerkinElmer to $104.00 and gave the company an “overweight” rating in a research report on Friday, February 1st. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.32.
In related news, insider Prahlad R. Singh sold 3,289 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $102.39, for a total transaction of $336,760.71. Following the completion of the sale, the insider now directly owns 28,242 shares of the company’s stock, valued at $2,891,698.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 24,465 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $92.81, for a total transaction of $2,270,596.65. Following the sale, the insider now directly owns 84,277 shares of the company’s stock, valued at $7,821,748.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,156 shares of company stock valued at $5,041,217. 1.80% of the stock is currently owned by insiders.
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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
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