PerkinElmer, Inc. (PKI) Holdings Cut by FIL Ltd
FIL Ltd lowered its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 19.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,170,043 shares of the medical research company’s stock after selling 524,903 shares during the quarter. FIL Ltd owned about 1.97% of PerkinElmer worth $147,867,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in PerkinElmer by 28.1% during the first quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock worth $115,000 after purchasing an additional 434 shares during the period. Acrospire Investment Management LLC boosted its position in PerkinElmer by 185.7% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,300 shares during the period. Twin Tree Management LP bought a new stake in PerkinElmer during the first quarter worth approximately $122,000. Ameritas Investment Partners Inc. bought a new stake in PerkinElmer during the first quarter worth approximately $152,000. Finally, LS Investment Advisors LLC boosted its position in PerkinElmer by 36.9% during the first quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after purchasing an additional 759 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.
PerkinElmer, Inc. (NYSE:PKI) traded down 0.45% during midday trading on Thursday, hitting $68.68. The stock had a trading volume of 100,212 shares. PerkinElmer, Inc. has a 1-year low of $45.35 and a 1-year high of $70.16. The firm has a 50-day moving average price of $66.08 and a 200-day moving average price of $63.21. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 20.71 and a beta of 0.74.
PerkinElmer (NYSE:PKI) last posted its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. On average, equities research analysts anticipate that PerkinElmer, Inc. will post $2.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be paid a $0.07 dividend. The ex-dividend date is Thursday, October 19th. This represents a $0.28 annualized dividend and a yield of 0.41%. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.
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A number of brokerages have issued reports on PKI. Jefferies Group LLC reaffirmed a “hold” rating and set a $69.00 target price (up previously from $58.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. BidaskClub cut PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a research report on Friday, August 4th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $70.00 target price (up previously from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Two investment 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. The stock currently has an average rating of “Hold” and an average price target of $67.00.
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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