PerkinElmer, Inc. (PKI) Holdings Reduced by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of PerkinElmer, Inc. (NYSE:PKI) by 43.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 318,466 shares of the medical research company’s stock after selling 246,789 shares during the period. Allianz Asset Management GmbH owned approximately 0.29% of PerkinElmer worth $30,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PKI. Select Equity Group L.P. lifted its holdings in shares of PerkinElmer by 7.2% during the 2nd quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock valued at $631,754,000 after buying an additional 578,940 shares during the period. BlackRock Inc. lifted its holdings in shares of PerkinElmer by 7.6% during the 3rd quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock valued at $634,084,000 after buying an additional 463,251 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of PerkinElmer by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock valued at $465,676,000 after buying an additional 22,710 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PerkinElmer by 4.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after buying an additional 144,602 shares during the period. Finally, FMR LLC lifted its holdings in shares of PerkinElmer by 84.1% during the 3rd quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock valued at $135,194,000 after buying an additional 634,806 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Shares of PerkinElmer stock opened at $90.60 on Tuesday. PerkinElmer, Inc. has a one year low of $69.21 and a one year high of $98.33. The firm has a market capitalization of $9.68 billion, a P/E ratio of 31.24, a P/E/G ratio of 1.94 and a beta of 1.12. The company has a current ratio of 1.70, a quick ratio of 1.18 and a debt-to-equity ratio of 0.73.

PerkinElmer (NYSE:PKI) last announced its earnings results on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The company had revenue of $674.30 million during the quarter, compared to the consensus estimate of $676.72 million. During the same period in the prior year, the business posted $0.73 earnings per share. PerkinElmer’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, analysts forecast that PerkinElmer, Inc. will post 3.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. PerkinElmer’s dividend payout ratio is currently 9.66%.

PKI has been the topic of several research analyst reports. Cleveland Research raised PerkinElmer from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Barclays raised PerkinElmer from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $79.00 to $90.00 in a report on Wednesday, September 5th. Deutsche Bank increased their price target on PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a report on Monday, September 10th. UBS Group initiated coverage on PerkinElmer in a report on Tuesday, October 9th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Morgan Stanley increased their price target on PerkinElmer from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $87.84.

In other PerkinElmer news, insider Deborah A. Butters sold 3,266 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $97.70, for a total transaction of $319,088.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Patrick J. Sullivan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $81.64, for a total value of $816,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,749 shares of company stock worth $2,187,244. 2.10% of the stock is owned by insiders.

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PerkinElmer Company Profile

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 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.

See Also: Balance Sheet

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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