CIBC World Markets Inc. bought a new position in PerkinElmer, Inc. (NYSE:PKI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,528 shares of the medical research company’s stock, valued at approximately $343,000.
Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in PerkinElmer during the second quarter valued at approximately $249,000. Dupont Capital Management Corp raised its stake in PerkinElmer by 300.7% during the second quarter. Dupont Capital Management Corp now owns 6,551 shares of the medical research company’s stock valued at $480,000 after buying an additional 4,916 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of PerkinElmer during the second quarter valued at approximately $449,000. Commonwealth Equity Services LLC grew its holdings in shares of PerkinElmer by 35.1% during the second quarter. Commonwealth Equity Services LLC now owns 13,296 shares of the medical research company’s stock valued at $974,000 after purchasing an additional 3,458 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of PerkinElmer by 11.2% during the second quarter. First Trust Advisors LP now owns 151,002 shares of the medical research company’s stock valued at $11,058,000 after purchasing an additional 15,235 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Alexis P. Michas sold 5,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas A. Lopardo sold 2,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $82.12, for a total value of $164,240.00. Following the completion of the transaction, the director now directly owns 1,661 shares of the company’s stock, valued at $136,401.32. The disclosure for this sale can be found here. Insiders sold a total of 29,749 shares of company stock valued at $2,641,994 over the last three months. Corporate insiders own 2.10% of the company’s stock.
Several research firms have recently commented on PKI. Deutsche Bank upped their target price on PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a report on Monday, September 10th. Barclays raised PerkinElmer from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $79.00 to $90.00 in a report on Wednesday, September 5th. Cleveland Research raised PerkinElmer from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Morgan Stanley upped their target price on PerkinElmer from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. Finally, UBS Group began coverage on PerkinElmer in a report on Tuesday, October 9th. They set a “neutral” rating and a $100.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $87.84.
NYSE:PKI opened at $83.76 on Friday. The company has a market cap of $9.64 billion, a PE ratio of 28.88, a P/E/G ratio of 1.93 and a beta of 1.12. PerkinElmer, Inc. has a 52 week low of $70.15 and a 52 week high of $98.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18.
PerkinElmer (NYSE:PKI) last posted its earnings results on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The company had revenue of $674.30 million for the quarter, compared to the consensus estimate of $676.72 million. PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Equities research analysts anticipate that PerkinElmer, Inc. will post 3.6 EPS for the current year.
The firm also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.
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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.
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