Prudential Financial Inc. boosted its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 151,883 shares of the medical research company’s stock after buying an additional 310 shares during the period. Prudential Financial Inc. owned approximately 0.14% of PerkinElmer worth $10,350,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Credit Suisse AG raised its holdings in PerkinElmer by 6.5% during the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after buying an additional 6,665 shares during the period. Swiss National Bank raised its holdings in PerkinElmer by 0.8% during the 1st quarter. Swiss National Bank now owns 181,200 shares of the medical research company’s stock valued at $10,520,000 after buying an additional 1,400 shares during the period. Morgan Stanley raised its holdings in PerkinElmer by 10.5% during the 1st quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock valued at $15,834,000 after buying an additional 25,976 shares during the period. Boston Private Wealth LLC raised its holdings in PerkinElmer by 10.0% during the 1st quarter. Boston Private Wealth LLC now owns 10,736 shares of the medical research company’s stock valued at $623,000 after buying an additional 975 shares during the period. Finally, Elk Creek Partners LLC raised its holdings in PerkinElmer by 30.0% during the 1st quarter. Elk Creek Partners LLC now owns 80,829 shares of the medical research company’s stock valued at $4,693,000 after buying an additional 18,656 shares during the period. Institutional investors own 91.69% of the company’s stock.
In related news, insider Andrew Okun sold 4,358 shares of the business’s 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 owns 16,799 shares in the company, valued at approximately $1,091,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by insiders.
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Several research firms recently weighed in on PKI. Cowen and Company restated a “market perform” rating and set a $70.00 price target (up previously from $61.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Wells Fargo & Company assumed coverage on PerkinElmer in a report on Thursday, July 13th. They set a “market perform” rating and a $72.00 price target on the stock. Zacks Investment Research downgraded PerkinElmer from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub downgraded PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. Two 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. The company has an average rating of “Hold” and a consensus target price of $67.00.
PerkinElmer, Inc. (NYSE:PKI) opened at 68.56 on Wednesday. The company has a market cap of $7.56 billion, a P/E ratio of 20.68 and a beta of 0.74. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.16. The stock’s 50 day moving average price is $65.73 and its 200-day moving average price is $62.60.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The firm had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. On average, equities analysts predict that PerkinElmer, Inc. will post $2.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. PerkinElmer’s dividend payout ratio is presently 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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