Denver Investment Advisors LLC acquired a new position in shares of PerkinElmer, Inc. (NYSE:PKI) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 21,650 shares of the medical research company’s stock, valued at approximately $1,475,000.
A number of other large investors have also recently made changes to their positions in the stock. Levin Capital Strategies L.P. boosted its stake in shares of PerkinElmer by 61.9% in the first quarter. Levin Capital Strategies L.P. now owns 980,463 shares of the medical research company’s stock worth $56,926,000 after buying an additional 374,761 shares during the period. Credit Suisse AG boosted its stake in shares of PerkinElmer by 6.5% in the first quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock worth $6,306,000 after buying an additional 6,665 shares during the period. Swiss National Bank boosted its stake in shares of PerkinElmer by 0.8% in the first quarter. Swiss National Bank now owns 181,200 shares of the medical research company’s stock worth $10,520,000 after buying an additional 1,400 shares during the period. Morgan Stanley boosted its stake in shares of PerkinElmer by 10.5% in the first quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock worth $15,834,000 after buying an additional 25,976 shares during the period. Finally, Boston Private Wealth LLC boosted its stake in shares of PerkinElmer by 10.0% in the first quarter. Boston Private Wealth LLC now owns 10,736 shares of the medical research company’s stock worth $623,000 after buying an additional 975 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.
Shares of PerkinElmer, Inc. (PKI) opened at 63.66 on Friday. PerkinElmer, Inc. has a one year low of $45.35 and a one year high of $70.16. The company’s 50-day moving average price is $66.92 and its 200-day moving average price is $61.09. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 19.20 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The business had revenue of $547 million for the quarter, compared to the consensus estimate of $554.14 million. During the same period last year, the business posted $0.67 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that PerkinElmer, Inc. will post $2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, October 19th. This represents a $0.28 annualized dividend and a yield of 0.44%. PerkinElmer’s dividend payout ratio is 8.46%.
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PKI has been the topic of several analyst reports. Piper Jaffray Companies lifted their target price on PerkinElmer to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 target price (up previously from $73.00) on shares of PerkinElmer in a research report on Monday, July 10th. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, August 1st. Evercore ISI reaffirmed an “in-line” rating and set a $68.00 target price (up previously from $62.50) on shares of PerkinElmer in a research report on Thursday, June 22nd. Finally, Citigroup Inc. lifted their target price on PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $67.00.
In other PerkinElmer news, Director Peter Barrett sold 10,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the sale, the director now directly owns 29,200 shares in the company, valued at approximately $1,846,024. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew Okun sold 4,358 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following 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. Company insiders own 2.20% of the company’s stock.
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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