361 Capital LLC bought a new stake in PerkinElmer, Inc. (NYSE:PKI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 27,032 shares of the medical research company’s stock, valued at approximately $1,842,000.
Other hedge funds have also recently modified their holdings of the company. Credit Suisse AG raised its holdings in shares of PerkinElmer by 6.5% in the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after purchasing an additional 6,665 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of PerkinElmer by 36.3% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock valued at $6,502,000 after purchasing an additional 25,404 shares during the period. Morgan Stanley raised its holdings in shares of PerkinElmer by 10.5% in the 1st quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock valued at $15,834,000 after purchasing an additional 25,976 shares during the period. Legal & General Group Plc raised its holdings in shares of PerkinElmer by 13.0% in the 2nd quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock valued at $6,815,000 after purchasing an additional 11,530 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of PerkinElmer by 59.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock valued at $3,545,000 after purchasing an additional 19,464 shares during the period. 91.47% of the stock is currently owned by institutional investors.
Shares of PerkinElmer, Inc. (PKI) traded up 0.51% on Tuesday, hitting $70.98. 103,596 shares of the company’s stock were exchanged. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.98. The firm has a market cap of $7.82 billion, a P/E ratio of 21.41 and a beta of 0.72. The stock’s 50 day moving average is $67.93 and its 200 day moving average is $64.55.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The company had revenue of $547.00 million for the quarter, compared to analyst estimates of $554.14 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that PerkinElmer, Inc. will post $2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
A number of brokerages have recently issued reports on PKI. Morgan Stanley reaffirmed an “overweight” rating and issued a $77.00 target price (down from $79.00) on shares of PerkinElmer in a report on Friday. Cantor Fitzgerald reissued a “hold” rating on shares of PerkinElmer in a report on Sunday, July 16th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, July 19th. Piper Jaffray Companies increased their price target on shares of PerkinElmer to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company assumed coverage on shares of PerkinElmer in a report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. PerkinElmer has an average rating of “Hold” and an average price target of $67.77.
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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