OppenheimerFunds Inc. reduced its position in PerkinElmer, Inc. (NYSE:PKI) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,645 shares of the medical research company’s stock after selling 125 shares during the period. OppenheimerFunds Inc.’s holdings in PerkinElmer were worth $270,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of PerkinElmer by 28.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock worth $115,000 after buying an additional 434 shares during the period. Ameritas Investment Partners Inc. bought a new position in PerkinElmer during the first quarter valued at $152,000. Federated Investors Inc. PA boosted its position in PerkinElmer by 158.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,997 shares of the medical research company’s stock valued at $156,000 after buying an additional 1,837 shares during the last quarter. LS Investment Advisors LLC boosted its position in PerkinElmer by 36.9% in the first quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock valued at $164,000 after buying an additional 759 shares during the last quarter. Finally, Waldron LP bought a new position in PerkinElmer during the first quarter valued at $233,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
PerkinElmer, Inc. (NYSE:PKI) traded down 0.30% during midday trading on Friday, hitting $63.47. 403,207 shares of the stock traded hands. The firm has a market cap of $7.00 billion, a PE ratio of 19.14 and a beta of 0.75. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.16. The stock has a 50-day moving average of $66.79 and a 200 day moving average of $61.18.
PerkinElmer (NYSE:PKI) last announced its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $547 million for the quarter, compared to analyst estimates of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. Equities analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.44%. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.
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Several equities analysts recently weighed in on PKI shares. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 target price (up from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Cantor Fitzgerald set a $65.00 target price on shares of PerkinElmer and gave the company a “hold” rating in a research note on Monday, June 19th. Piper Jaffray Companies raised their target price on shares of PerkinElmer to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $68.00 target price (up from $62.50) on shares of PerkinElmer in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer currently has an average rating of “Hold” and a consensus target price of $67.00.
In related news, Director Peter Barrett sold 10,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the completion of the sale, the director now directly owns 29,200 shares of the company’s stock, valued at $1,846,024. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Okun sold 4,358 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $65.00, for a total value of $283,270.00. Following the sale, the insider now directly owns 16,799 shares of the company’s stock, valued at $1,091,935. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
PerkinElmer Company Profile
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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