Eqis Capital Management Inc. acquired a new stake in PerkinElmer, Inc. (NYSE:PKI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,131 shares of the medical research company’s stock, valued at approximately $350,000.
A number of other institutional investors have also recently bought and sold shares of the stock. First Citizens Bank & Trust Co. bought a new position in shares of PerkinElmer during the first quarter worth about $1,639,000. Sit Investment Associates Inc. raised its position in shares of PerkinElmer by 12.9% in the first quarter. Sit Investment Associates Inc. now owns 17,725 shares of the medical research company’s stock worth $1,029,000 after buying an additional 2,025 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of PerkinElmer by 5,367.6% in the first quarter. Acadian Asset Management LLC now owns 17,879 shares of the medical research company’s stock worth $1,038,000 after buying an additional 17,552 shares during the last quarter. ProShare Advisors LLC raised its position in shares of PerkinElmer by 2.0% in the first quarter. ProShare Advisors LLC now owns 40,715 shares of the medical research company’s stock worth $2,364,000 after buying an additional 799 shares during the last quarter. Finally, Waldron LP purchased a new position in shares of PerkinElmer during the first quarter worth approximately $233,000. 92.77% of the stock is owned by hedge funds and other institutional investors.
PerkinElmer, Inc. (NYSE:PKI) opened at 63.93 on Friday. The firm has a market capitalization of $7.05 billion, a P/E ratio of 19.28 and a beta of 0.75. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.16. The firm’s 50-day moving average is $67.37 and its 200 day moving average is $60.75.
PerkinElmer (NYSE:PKI) last announced its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The business had revenue of $547 million for the quarter, compared to the consensus estimate of $554.14 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that PerkinElmer, Inc. will post $2.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s dividend payout ratio is presently 8.46%.
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PKI has been the topic of a number of analyst reports. BidaskClub downgraded PerkinElmer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, July 19th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a research note on Friday, August 4th. Citigroup Inc. raised their price objective on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price target on shares of PerkinElmer in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.00.
In other PerkinElmer news, Director Patrick J. Sullivan sold 6,628 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $62.59, for a total transaction of $414,846.52. Following the transaction, the director now directly owns 42,951 shares in the company, valued at approximately $2,688,303.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Okun sold 4,358 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the sale, the insider now owns 16,799 shares in the company, valued at $1,091,935. The disclosure for this sale can be found here. Insiders sold a total of 20,986 shares of company stock worth $1,330,317 in the last ninety days. 2.20% of the stock is currently owned by insiders.
PerkinElmer Company Profile
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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