Gargoyle Investment Advisor L.L.C. Has $3,227,000 Position in PerkinElmer, Inc. (NYSE:PKI)
Gargoyle Investment Advisor L.L.C. continued to hold its stake in shares of PerkinElmer, Inc. (NYSE:PKI) during the second quarter, Holdings Channel reports. The institutional investor owned 47,353 shares of the medical research company’s stock at the end of the second quarter. PerkinElmer accounts for 1.3% of Gargoyle Investment Advisor L.L.C.’s portfolio, making the stock its 19th largest position. Gargoyle Investment Advisor L.L.C.’s holdings in PerkinElmer were worth $3,227,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Chevy Chase Trust Holdings Inc. raised its stake in shares of PerkinElmer by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 94,643 shares of the medical research company’s stock worth $5,495,000 after buying an additional 2,759 shares during the period. Bank of Montreal Can raised its stake in shares of PerkinElmer by 5.3% in the first quarter. Bank of Montreal Can now owns 32,798 shares of the medical research company’s stock worth $1,904,000 after buying an additional 1,648 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of PerkinElmer during the first quarter worth about $749,000. Retirement Systems of Alabama raised its stake in shares of PerkinElmer by 2.2% in the first quarter. Retirement Systems of Alabama now owns 53,068 shares of the medical research company’s stock worth $3,081,000 after buying an additional 1,147 shares during the period. Finally, Waldron LP bought a new stake in shares of PerkinElmer during the first quarter worth about $233,000. 92.77% of the stock is currently owned by institutional investors.
PerkinElmer, Inc. (NYSE PKI) opened at 63.93 on Friday. The company’s 50-day moving average price is $67.37 and its 200 day moving average price is $60.75. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.16. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 19.28 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The firm had revenue of $547 million for the quarter, compared to the consensus estimate of $554.14 million. During the same quarter last year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that PerkinElmer, Inc. will post $2.89 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 paid 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 is 8.46%.
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A number of equities research analysts have recently issued reports on PKI shares. Cantor Fitzgerald lowered PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 target price on shares of PerkinElmer in a research report on Friday, May 5th. Barclays PLC set a $55.00 target price on PerkinElmer and gave the stock a “sell” rating in a research report on Saturday, May 6th. BidaskClub lowered PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $70.00 target price (up from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.00.
In other PerkinElmer news, 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 owns 29,200 shares of the company’s stock, valued at approximately $1,846,024. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total value 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. Insiders sold a total of 20,986 shares of company stock worth $1,330,317 in the last three months. Company 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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