First Citizens Bank & Trust Co. cut its stake in PerkinElmer, Inc. (NYSE:PKI) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,444 shares of the medical research company’s stock after selling 1,782 shares during the period. First Citizens Bank & Trust Co.’s holdings in PerkinElmer were worth $1,802,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PKI. State Treasurer State of Michigan increased its stake in shares of PerkinElmer by 0.3% in the second quarter. State Treasurer State of Michigan now owns 36,129 shares of the medical research company’s stock worth $2,462,000 after buying an additional 100 shares during the period. BTIM Corp. acquired a new stake in shares of PerkinElmer during the second quarter worth about $4,397,000. Aperio Group LLC increased its stake in shares of PerkinElmer by 17.4% in the second quarter. Aperio Group LLC now owns 53,525 shares of the medical research company’s stock worth $3,647,000 after buying an additional 7,945 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of PerkinElmer by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the medical research company’s stock worth $463,000 after buying an additional 100 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock worth $196,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 92.43% of the company’s stock.

PerkinElmer, Inc. (PKI) traded down 1.209% during mid-day trading on Wednesday, reaching $67.405. The company had a trading volume of 340,595 shares. The firm has a 50-day moving average of $67.29 and a 200 day moving average of $59.63. PerkinElmer, Inc. has a 1-year low of $45.35 and a 1-year high of $70.16. The company has a market capitalization of $7.42 billion, a PE ratio of 32.864 and a beta of 0.76.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. PerkinElmer had a return on equity of 13.97% and a net margin of 10.24%. The firm had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. During the same quarter last year, the firm earned $0.50 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that PerkinElmer, Inc. will post $2.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. PerkinElmer’s dividend payout ratio is currently 13.66%.

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PKI has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price target (up previously from $73.00) on shares of PerkinElmer in a research report on Monday, July 10th. Cantor Fitzgerald downgraded PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Wednesday, April 19th. Evercore ISI reiterated an “in-line” rating and set a $68.00 price target (up previously from $62.50) on shares of PerkinElmer in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price target on shares of PerkinElmer in a research report on Monday, May 15th. Finally, Citigroup Inc. lifted their price target on PerkinElmer from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. PerkinElmer presently has a consensus rating of “Hold” and a consensus price target of $65.20.

In other PerkinElmer news, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the sale, the insider now owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Barrett sold 10,000 shares of PerkinElmer stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $63.22, for a total value of $632,200.00. Following the sale, the director now directly owns 29,200 shares of the company’s stock, valued at approximately $1,846,024. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 170,923 shares of company stock valued at $10,340,269. 2.20% of the stock is currently owned by insiders.

About PerkinElmer

PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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