Municipal Employees Retirement System of Michigan lifted its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 526.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,860 shares of the medical research company’s stock after buying an additional 15,010 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in PerkinElmer were worth $1,306,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Comerica Bank grew its position in shares of PerkinElmer by 3.0% during the fourth quarter. Comerica Bank now owns 26,881 shares of the medical research company’s stock worth $2,189,000 after buying an additional 772 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of PerkinElmer by 53.8% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock worth $170,000 after buying an additional 779 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of PerkinElmer by 9.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,963 shares of the medical research company’s stock worth $618,000 after buying an additional 788 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of PerkinElmer by 2.8% during the third quarter. Nationwide Fund Advisors now owns 31,430 shares of the medical research company’s stock worth $2,168,000 after buying an additional 851 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of PerkinElmer by 8.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 11,825 shares of the medical research company’s stock worth $865,000 after buying an additional 947 shares in the last quarter. 91.94% of the stock is owned by institutional investors and hedge funds.
In other news, insider Frank Anders Wilson sold 103,656 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $73.94, for a total transaction of $7,664,324.64. Following the completion of the sale, the insider now owns 93,624 shares in the company, valued at $6,922,558.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Okun sold 2,273 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $77.86, for a total value of $176,975.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,253 shares of company stock valued at $8,016,623. 2.20% of the stock is owned by company insiders.
Shares of PerkinElmer, Inc. (NYSE:PKI) opened at $76.89 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.71. PerkinElmer, Inc. has a 52 week low of $56.21 and a 52 week high of $84.49. The firm has a market capitalization of $8,546.40, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The company had revenue of $641.63 million during the quarter, compared to analysts’ expectations of $619.14 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. equities research analysts expect that PerkinElmer, Inc. will post 3.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s dividend payout ratio is currently 10.61%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, January 8th. Cowen reaffirmed a “hold” rating and issued a $84.00 price target on shares of PerkinElmer in a report on Friday, January 26th. Bank of America raised PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 price target for the company in a report on Tuesday, December 19th. Barclays upped their price target on PerkinElmer from $69.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 price target on shares of PerkinElmer in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $76.85.
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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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