Bank of Montreal Can Buys New Stake in PerkinElmer Inc. (PKI)
Bank of Montreal Can 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 140,807 shares of the company’s stock, valued at approximately $7,381,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI purchased a new stake in PerkinElmer during the first quarter worth about $124,000. Gofen & Glossberg LLC IL purchased a new stake in PerkinElmer during the second quarter worth about $207,000. Eqis Capital Management Inc. purchased a new stake in PerkinElmer during the second quarter worth about $278,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in PerkinElmer during the second quarter worth about $294,000. Finally, Seven Eight Capital LLC purchased a new stake in PerkinElmer during the first quarter worth about $489,000. 90.50% of the stock is owned by hedge funds and other institutional investors.
PerkinElmer Inc. (NYSE:PKI) traded down 1.29% during trading on Friday, hitting $55.70. The stock had a trading volume of 1,029,640 shares. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 26.61 and a beta of 0.85. PerkinElmer Inc. has a 12-month low of $39.50 and a 12-month high of $57.28. The stock has a 50 day moving average price of $54.49 and a 200 day moving average price of $53.42.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Wednesday, October 12th. PerkinElmer’s dividend payout ratio is currently 13.33%.
PKI has been the subject of a number of research reports. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Thursday, July 21st. Morgan Stanley set a $61.00 price target on PerkinElmer and gave the stock a “buy” rating in a research report on Friday, August 5th. Jefferies Group boosted their price target on PerkinElmer from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. BTIG Research reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Friday, August 5th. Finally, Mizuho cut PerkinElmer from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $55.00.
In other PerkinElmer news, insider Daniel R. Tereau sold 18,866 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $52.00, for a total transaction of $981,032.00. Following the completion of the transaction, the insider now owns 21,241 shares in the company, valued at approximately $1,104,532. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joel S. Goldberg sold 38,095 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $2,095,225.00. Following the transaction, the insider now owns 96,299 shares of the company’s stock, valued at approximately $5,296,445. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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