First Trust Advisors LP lowered its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 64.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,636 shares of the medical research company’s stock after selling 158,286 shares during the quarter. First Trust Advisors LP owned about 0.08% of PerkinElmer worth $8,400,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its position in PerkinElmer by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 4,800 shares of the medical research company’s stock worth $471,000 after acquiring an additional 100 shares during the period. Mutual of America Capital Management LLC increased its holdings in PerkinElmer by 1.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,149 shares of the medical research company’s stock valued at $1,140,000 after buying an additional 148 shares during the period. Guyasuta Investment Advisors Inc. increased its holdings in PerkinElmer by 1.1% in the 1st quarter. Guyasuta Investment Advisors Inc. now owns 14,185 shares of the medical research company’s stock valued at $1,068,000 after buying an additional 150 shares during the period. Palmer Knight Co increased its holdings in PerkinElmer by 0.3% in the 2nd quarter. Palmer Knight Co now owns 57,214 shares of the medical research company’s stock valued at $5,612,000 after buying an additional 164 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in PerkinElmer by 23.8% in the 4th quarter. Quadrant Capital Group LLC now owns 885 shares of the medical research company’s stock valued at $83,000 after buying an additional 170 shares during the period. 93.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PKI opened at $118.91 on Friday. The firm’s 50-day simple moving average is $102.67 and its 200 day simple moving average is $92.32. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.37. The company has a quick ratio of 1.30, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. PerkinElmer, Inc. has a 12-month low of $62.91 and a 12-month high of $121.44.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.87. The business had revenue of $811.91 million for the quarter, compared to the consensus estimate of $703.32 million. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. On average, equities analysts expect that PerkinElmer, Inc. will post 4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 16th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.24%. PerkinElmer’s dividend payout ratio (DPR) is 6.83%.
In other PerkinElmer news, Director Peter Barrett sold 7,552 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $100.11, for a total transaction of $756,030.72. Following the transaction, the director now directly owns 29,552 shares in the company, valued at approximately $2,958,450.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 5,452 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $95.22, for a total transaction of $519,139.44. In the last quarter, insiders have sold 19,703 shares of company stock worth $2,079,050. 0.62% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on PKI shares. Needham & Company LLC started coverage on shares of PerkinElmer in a report on Monday, July 13th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of PerkinElmer from $85.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group boosted their price target on shares of PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Robert W. Baird boosted their price target on shares of PerkinElmer from $94.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Cfra raised shares of PerkinElmer from a “hold” rating to a “buy” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. PerkinElmer presently has an average rating of “Hold” and a consensus target price of $95.13.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
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