Cetera Advisors LLC acquired a new position in shares of PerkinElmer, Inc. (NYSE:PKI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,117 shares of the medical research company’s stock, valued at approximately $205,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PKI. South Dakota Investment Council bought a new position in PerkinElmer in the first quarter worth $87,000. California Public Employees Retirement System grew its stake in shares of PerkinElmer by 1.1% in the first quarter. California Public Employees Retirement System now owns 220,522 shares of the medical research company’s stock worth $21,249,000 after acquiring an additional 2,466 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of PerkinElmer by 1,944.6% in the first quarter. Victory Capital Management Inc. now owns 33,389 shares of the medical research company’s stock worth $3,217,000 after acquiring an additional 31,756 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of PerkinElmer in the first quarter worth $1,098,000. Finally, Investment Management of Virginia LLC grew its stake in shares of PerkinElmer by 2.0% in the first quarter. Investment Management of Virginia LLC now owns 11,971 shares of the medical research company’s stock worth $1,154,000 after acquiring an additional 240 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
PKI has been the topic of a number of recent research reports. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Wednesday, April 3rd. Goldman Sachs Group raised PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, April 9th. Royal Bank of Canada reissued a “hold” rating and issued a $41.00 target price on shares of PerkinElmer in a research report on Friday, May 3rd. Finally, Wolfe Research began coverage on PerkinElmer in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and an average price target of $81.32.
Shares of PKI traded down $0.17 during trading hours on Friday, hitting $92.94. The company had a trading volume of 638,600 shares, compared to its average volume of 737,639. PerkinElmer, Inc. has a one year low of $71.31 and a one year high of $103.00. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.65 and a beta of 1.24. 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. PerkinElmer had a return on equity of 15.98% and a net margin of 8.89%. The company had revenue of $648.70 million for the quarter, compared to analyst estimates of $645.38 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that PerkinElmer, Inc. will post 4.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.30%. PerkinElmer’s payout ratio is presently 7.76%.
In other news, insider Prahlad R. Singh sold 3,289 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $102.39, for a total value of $336,760.71. Following the sale, the insider now owns 28,242 shares in the company, valued at $2,891,698.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deborah A. Butters sold 7,414 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $98.00, for a total value of $726,572.00. Following the transaction, the insider now owns 15,108 shares in the company, valued at approximately $1,480,584. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,491 shares of company stock worth $2,658,696. Company insiders own 1.80% of the company’s stock.
PerkinElmer Company Profile
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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