State Board of Administration of Florida Retirement System reduced its position in PerkinElmer, Inc. (NYSE:PKI) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,852 shares of the medical research company’s stock after selling 3,886 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of PerkinElmer worth $11,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC purchased a new position in shares of PerkinElmer in the 4th quarter worth $121,000. Tower Research Capital LLC TRC boosted its stake in shares of PerkinElmer by 69.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,972 shares of the medical research company’s stock worth $191,000 after buying an additional 806 shares during the last quarter. Ibex Investors LLC purchased a new position in shares of PerkinElmer in the 3rd quarter worth $206,000. Conning Inc. purchased a new position in shares of PerkinElmer in the 3rd quarter worth $212,000. Finally, Sapphire Star Partners LP purchased a new position in shares of PerkinElmer in the 3rd quarter worth $221,000. Hedge funds and other institutional investors own 95.25% of the company’s stock.

In other news, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas A. Lopardo sold 2,000 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $87.08, for a total value of $174,160.00. The disclosure for this sale can be found here. Insiders sold 8,600 shares of company stock worth $777,182 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Several equities analysts recently weighed in on PKI shares. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, January 3rd. Janney Montgomery Scott downgraded PerkinElmer from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. CIBC reiterated an “average” rating and set a $44.50 target price on shares of PerkinElmer in a research report on Thursday, January 10th. Cowen reiterated a “hold” rating and set a $85.00 target price on shares of PerkinElmer in a research report on Sunday, January 6th. Finally, UBS Group set a $92.00 target price on PerkinElmer and gave the company a “hold” rating in a research report on Saturday, February 2nd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $80.99.

NYSE PKI opened at $92.05 on Tuesday. The firm has a market cap of $10.22 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.84 and a beta of 1.24. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73. PerkinElmer, Inc. has a fifty-two week low of $70.83 and a fifty-two week high of $98.33.

PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. The company had revenue of $756.35 million for the quarter, compared to the consensus estimate of $746.15 million. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities research analysts anticipate that PerkinElmer, Inc. will post 4.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a $0.07 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. PerkinElmer’s payout ratio is 7.76%.

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PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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