Candriam Luxembourg S.C.A. cut its position in PerkinElmer, Inc. (NYSE:PKI) by 52.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 42,000 shares of the medical research company’s stock after selling 46,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in PerkinElmer were worth $2,862,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of PerkinElmer by 13.4% in the first quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock worth $1,245,000 after buying an additional 2,531 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of PerkinElmer by 7.2% in the first quarter. Glen Harbor Capital Management LLC now owns 4,512 shares of the medical research company’s stock worth $262,000 after buying an additional 304 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of PerkinElmer during the first quarter worth $1,639,000. Sit Investment Associates Inc. boosted its stake in shares of PerkinElmer by 12.9% in the first quarter. Sit Investment Associates Inc. now owns 17,725 shares of the medical research company’s stock worth $1,029,000 after buying an additional 2,025 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of PerkinElmer by 5,367.6% in the first quarter. Acadian Asset Management LLC now owns 17,879 shares of the medical research company’s stock worth $1,038,000 after buying an additional 17,552 shares during the period. Institutional investors and hedge funds own 91.47% of the company’s stock.
Shares of PerkinElmer, Inc. (PKI) traded down 0.30% on Friday, reaching $63.47. 403,207 shares of the company were exchanged. The firm’s 50 day moving average price is $66.79 and its 200 day moving average price is $61.18. The stock has a market capitalization of $7.00 billion, a price-to-earnings 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.
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, hitting the consensus estimate of $0.67. The company had revenue of $547 million for 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%. PerkinElmer’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. Equities research analysts anticipate that PerkinElmer, Inc. will post $2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio is presently 8.46%.
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A number of brokerages have weighed in on PKI. Cantor Fitzgerald restated a “hold” rating on shares of PerkinElmer in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, July 19th. Piper Jaffray Companies upped their target price on shares of PerkinElmer to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Wells Fargo & Company began coverage on shares of PerkinElmer in a research note on Thursday, July 13th. They issued a “market perform” rating and a $72.00 target price on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price (up previously from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Two 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 company has a consensus rating of “Hold” and a consensus price target of $67.00.
In other PerkinElmer news, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $65.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Barrett sold 10,000 shares of PerkinElmer stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $63.22, for a total transaction of $632,200.00. Following the sale, the director now owns 29,200 shares of the company’s stock, valued at $1,846,024. The disclosure for this sale can be found here. 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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