Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in PerkinElmer, Inc. (NYSE:PKI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the medical research company’s stock, valued at approximately $439,000.
Other large investors have also recently modified their holdings of the company. Balyasny Asset Management LLC purchased a new stake in shares of PerkinElmer in the 2nd quarter valued at $271,000. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of PerkinElmer by 37.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 25,886 shares of the medical research company’s stock valued at $1,763,000 after buying an additional 7,053 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of PerkinElmer in the 2nd quarter valued at $269,000. Nomura Holdings Inc. purchased a new stake in shares of PerkinElmer in the 2nd quarter valued at $567,000. Finally, Toronto Dominion Bank raised its holdings in shares of PerkinElmer by 26.4% in the 2nd quarter. Toronto Dominion Bank now owns 35,925 shares of the medical research company’s stock valued at $2,447,000 after buying an additional 7,505 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
PerkinElmer, Inc. (NYSE PKI) traded up $1.08 during midday trading on Friday, reaching $77.02. The company had a trading volume of 374,181 shares, compared to its average volume of 760,766. The stock has a market cap of $8,490.00, a P/E ratio of 54.62, a P/E/G ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. PerkinElmer, Inc. has a 12-month low of $53.97 and a 12-month high of $84.49.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $641.63 million for the quarter, compared to analysts’ expectations of $619.14 million. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. equities research analysts anticipate that PerkinElmer, Inc. will post 3.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Friday, April 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s dividend payout ratio (DPR) is currently 19.86%.
In other PerkinElmer news, insider Andrew Okun sold 2,273 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $77.86, for a total value of $176,975.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frank Anders Wilson sold 37,535 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $70.14, for a total value of $2,632,704.90. The disclosure for this sale can be found here. Insiders sold a total of 59,812 shares of company stock worth $4,263,863 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Several research analysts recently commented on PKI shares. Morgan Stanley boosted their target price on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $88.00 price objective on shares of PerkinElmer in a research report on Friday, January 26th. Evercore ISI assumed coverage on PerkinElmer in a research report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price objective for the company. Cowen reissued a “hold” rating and issued a $84.00 target price on shares of PerkinElmer in a research report on Friday, January 26th. Finally, Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $76.85.
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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