PerkinElmer, Inc. (NYSE:PKI) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund cut its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 30,919 shares of the medical research company’s stock after selling 1,159 shares during the period. Texas Permanent School Fund’s holdings in PerkinElmer were worth $2,107,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Honeywell International Inc. purchased a new stake in shares of PerkinElmer during the first quarter worth about $13,191,000. Canada Pension Plan Investment Board boosted its position in PerkinElmer by 143.5% in the first quarter. Canada Pension Plan Investment Board now owns 5,600 shares of the medical research company’s stock valued at $325,000 after buying an additional 3,300 shares in the last quarter. Russell Investments Group Ltd. boosted its position in PerkinElmer by 13.4% in the first quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock valued at $1,245,000 after buying an additional 2,531 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in PerkinElmer by 7.2% in the first quarter. Glen Harbor Capital Management LLC now owns 4,512 shares of the medical research company’s stock valued at $262,000 after buying an additional 304 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in PerkinElmer during the first quarter valued at $1,639,000. 92.77% of the stock is currently owned by institutional investors.
PerkinElmer, Inc. (NYSE:PKI) opened at 63.93 on Friday. The firm’s 50 day moving average is $67.37 and its 200-day moving average is $60.75. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.16. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 19.28 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The company had revenue of $547 million for the quarter, compared to analyst estimates of $554.14 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
PKI has been the topic of several research analyst reports. BidaskClub cut shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, July 19th. Piper Jaffray Companies reissued a “buy” rating and issued a $81.00 price target on shares of PerkinElmer in a report on Friday, August 4th. Citigroup Inc. increased their price target on shares of PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price target on shares of PerkinElmer in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. PerkinElmer presently has an average rating of “Hold” and a consensus target price of $67.00.
In other news, Director Peter Barrett sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $63.22, for a total value of $632,200.00. Following the sale, the director now owns 29,200 shares of the company’s stock, valued at $1,846,024. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Okun sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were 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 directly owns 16,799 shares in the company, valued at approximately $1,091,935. The disclosure for this sale can be found here. In the last three months, insiders sold 20,986 shares of company stock worth $1,330,317. Insiders own 2.20% of the company’s stock.
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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