Flinton Capital Management LLC Lowers Stake in PerkinElmer, Inc. (PKI)

Flinton Capital Management LLC cut its holdings in PerkinElmer, Inc. (NYSE:PKI) by 6.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,992 shares of the medical research company’s stock after selling 392 shares during the quarter. Flinton Capital Management LLC’s holdings in PerkinElmer were worth $471,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its stake in shares of PerkinElmer by 1.6% in the third quarter. Capital Research Global Investors now owns 12,159,571 shares of the medical research company’s stock valued at $1,182,761,000 after buying an additional 191,388 shares in the last quarter. Vanguard Group Inc increased its stake in shares of PerkinElmer by 1.7% in the third quarter. Vanguard Group Inc now owns 11,628,380 shares of the medical research company’s stock valued at $1,131,092,000 after buying an additional 198,673 shares in the last quarter. BlackRock Inc. increased its stake in shares of PerkinElmer by 7.4% in the fourth quarter. BlackRock Inc. now owns 7,001,732 shares of the medical research company’s stock valued at $549,985,000 after buying an additional 482,906 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PerkinElmer by 10.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,766,757 shares of the medical research company’s stock valued at $295,879,000 after buying an additional 353,534 shares in the last quarter. Finally, FMR LLC increased its position in PerkinElmer by 84.1% in the third quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock worth $135,194,000 after purchasing an additional 634,806 shares during the period. Institutional investors own 95.34% of the company’s stock.

Shares of PKI opened at $93.11 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73. PerkinElmer, Inc. has a 1 year low of $70.83 and a 1 year high of $98.33. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.88 and a beta of 1.25.

PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.02. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. The firm had revenue of $756.35 million for the quarter, compared to analysts’ expectations of $746.15 million. During the same quarter last year, the business earned $0.97 earnings per share. As a group, equities analysts predict that PerkinElmer, Inc. will post 4.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s dividend payout ratio (DPR) is currently 7.76%.

In other PerkinElmer news, insider Joel S. Goldberg sold 24,465 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.81, for a total transaction of $2,270,596.65. Following the transaction, the insider now owns 84,277 shares in the company, valued at $7,821,748.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nicholas A. Lopardo sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,984 shares of company stock worth $3,252,048. Company insiders own 2.10% of the company’s stock.

A number of analysts recently commented on PKI shares. Needham & Company LLC started coverage on PerkinElmer in a research report on Wednesday, January 2nd. They issued a “hold” rating and a $79.00 price objective for the company. Morgan Stanley lowered their price objective on PerkinElmer from $100.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, January 3rd. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, January 3rd. Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of PerkinElmer in a research report on Sunday, January 6th. Finally, CIBC reiterated an “average” rating and issued a $44.50 price objective on shares of PerkinElmer in a research report on Thursday, January 10th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.99.

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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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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