Chevy Chase Trust Holdings Inc. increased its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund 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 approximately 0.09% of PerkinElmer worth $6,459,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. bought a new stake in shares of PerkinElmer during the first quarter valued at approximately $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 valued at $1,029,000 after buying an additional 2,025 shares during the last quarter. 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 valued at $1,038,000 after buying an additional 17,552 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of PerkinElmer by 2.0% in the first quarter. ProShare Advisors LLC now owns 40,715 shares of the medical research company’s stock valued at $2,364,000 after buying an additional 799 shares during the last quarter. Finally, Waldron LP bought a new stake in shares of PerkinElmer during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 92.68% of the company’s stock.
Shares of PerkinElmer, Inc. (NYSE:PKI) traded up 0.29% during trading on Wednesday, hitting $66.41. The stock had a trading volume of 82,660 shares. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 32.38 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 firm has a 50 day moving average price of $67.63 and a 200-day moving average price of $60.20.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. PerkinElmer had a return on equity of 13.97% and a net margin of 10.24%. The company had revenue of $514.12 million for the quarter, compared to analyst estimates of $506.81 million. During the same period in the previous year, the company posted $0.50 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that PerkinElmer, Inc. will post $2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors 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 annualized dividend and a dividend yield of 0.42%. PerkinElmer’s dividend payout ratio is presently 13.66%.
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Several brokerages have issued reports on PKI. Cantor Fitzgerald reissued a “hold” rating on shares of PerkinElmer in a research note on Sunday, July 16th. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, July 19th. Piper Jaffray Companies boosted their price target on PerkinElmer to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Wells Fargo & Company began coverage on PerkinElmer in a research note on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price target on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target (up from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $64.93.
In other PerkinElmer news, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction on Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the transaction, the insider now owns 16,799 shares in the company, valued at $1,091,935. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,506,000.00. Following the transaction, the insider now owns 597,071 shares of the company’s stock, valued at approximately $35,824,260. The disclosure for this sale can be found here. Insiders have sold 46,086 shares of company stock worth $2,836,317 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.
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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