Chevy Chase Trust Holdings Inc. increased its stake in PerkinElmer, Inc. (NYSE:PKI) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,798 shares of the medical research company’s stock after buying an additional 155 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of PerkinElmer worth $6,459,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in PerkinElmer during the fourth quarter valued at approximately $988,000. Dimensional Fund Advisors LP raised its position in PerkinElmer by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 772,837 shares of the medical research company’s stock valued at $40,304,000 after buying an additional 59,736 shares during the last quarter. Federated Investors Inc. PA raised 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. Kentucky Retirement Systems bought a new position in PerkinElmer during the fourth quarter valued at approximately $415,000. Finally, Bank of Montreal Can raised its position in PerkinElmer by 5.3% in the first quarter. Bank of Montreal Can now owns 32,798 shares of the medical research company’s stock valued at $1,904,000 after buying an additional 1,648 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.
Shares of PerkinElmer, Inc. (PKI) opened at 69.52 on Friday. PerkinElmer, Inc. has a 1-year low of $45.35 and a 1-year high of $70.16. The firm’s 50-day moving average price is $67.00 and its 200 day moving average price is $59.34. The stock has a market cap of $7.65 billion, a P/E ratio of 33.90 and a beta of 0.76.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The firm had revenue of $514.12 million during the quarter, compared to analyst estimates of $506.81 million. During the same quarter last year, the business posted $0.50 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that PerkinElmer, Inc. will post $2.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 21st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Wednesday, July 19th. PerkinElmer’s dividend payout ratio is 13.66%.
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PKI has been the subject of several recent research reports. Janney Montgomery Scott raised PerkinElmer from a “neutral” rating to a “buy” rating in a research report on Monday, March 27th. Citigroup Inc. boosted their price target on PerkinElmer from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, April 7th. Cantor Fitzgerald lowered PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 target price on shares of PerkinElmer in a research report on Friday, May 5th. Finally, Barclays PLC set a $55.00 target price on PerkinElmer and gave the company a “sell” rating in a research report on Saturday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and an average price target of $64.14.
In other PerkinElmer news, insider Robert F. Friel sold 25,100 shares of PerkinElmer stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $60.00, for a total transaction of $1,506,000.00. Following the completion of the sale, the insider now owns 597,071 shares of the company’s stock, valued at approximately $35,824,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction 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 sale, the insider now directly owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The disclosure for this sale can be found here. Insiders sold a total of 170,923 shares of company stock valued at $10,340,269 in the last ninety days. Company insiders own 2.20% of the company’s stock.
About PerkinElmer
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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