PerkinElmer, Inc. (PKI) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. grew its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,571 shares of the medical research company’s stock after acquiring an additional 2,962 shares during the period. Principal Financial Group Inc. owned 0.16% of PerkinElmer worth $12,168,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of PerkinElmer by 28.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 434 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of PerkinElmer during the 1st quarter valued at $122,000. Ameritas Investment Partners Inc. purchased a new position in shares of PerkinElmer during the 1st quarter valued at $152,000. LS Investment Advisors LLC grew its holdings in shares of PerkinElmer by 36.9% during the 1st quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock valued at $164,000 after acquiring an additional 759 shares in the last quarter. Finally, Harvest Management LLC purchased a new position in shares of PerkinElmer during the 1st quarter valued at $201,000. Institutional investors and hedge funds own 91.47% of the company’s stock.
PKI has been the topic of several research analyst reports. Evercore ISI restated an “in-line” rating and set a $68.00 price target (up from $62.50) on shares of PerkinElmer in a report on Thursday, June 22nd. BidaskClub lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $81.00 price objective on shares of PerkinElmer in a research note on Friday, August 4th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, August 1st. Finally, Citigroup Inc. lifted their price objective on shares of PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.50.
PerkinElmer, Inc. (NYSE:PKI) opened at 68.17 on Friday. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.16. The firm’s 50-day moving average is $66.08 and its 200-day moving average is $63.21. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 20.56 and a beta of 0.74.
PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $547.00 million during the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. Analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
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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