State of Wisconsin Investment Board cut its stake in shares of PerkinElmer Inc. (NYSE:PKI) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 69,527 shares of the company’s stock after selling 1,200 shares during the period. State of Wisconsin Investment Board’s holdings in PerkinElmer were worth $3,901,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of PerkinElmer by 9.4% in the second quarter. Nisa Investment Advisors LLC now owns 101,780 shares of the company’s stock valued at $5,335,000 after buying an additional 8,780 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of PerkinElmer during the second quarter valued at $278,000. Gofen & Glossberg LLC IL acquired a new position in shares of PerkinElmer during the second quarter valued at $207,000. Capstone Asset Management Co. increased its position in shares of PerkinElmer by 8.9% in the second quarter. Capstone Asset Management Co. now owns 29,432 shares of the company’s stock valued at $1,543,000 after buying an additional 2,410 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of PerkinElmer by 4.6% in the second quarter. Fisher Asset Management LLC now owns 685,785 shares of the company’s stock valued at $37,005,000 after buying an additional 30,025 shares during the period. Institutional investors own 89.63% of the company’s stock.
PerkinElmer Inc. (NYSE:PKI) traded down 1.16% during trading on Monday, reaching $50.94. 642,450 shares of the company’s stock were exchanged. PerkinElmer Inc. has a 1-year low of $39.50 and a 1-year high of $57.28. The company has a market capitalization of $5.58 billion, a PE ratio of 23.72 and a beta of 0.94. The company’s 50-day moving average is $51.65 and its 200-day moving average is $53.68.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. PerkinElmer had a net margin of 10.48% and a return on equity of 14.55%. The firm earned $548 million during the quarter, compared to analyst estimates of $572.03 million. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities research analysts expect that PerkinElmer Inc. will post $2.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 20th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is currently 13.02%.
Several brokerages have weighed in on PKI. Morgan Stanley set a $61.00 price target on PerkinElmer and gave the company a “buy” rating in a report on Friday, August 5th. Barclays PLC upped their price objective on PerkinElmer from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, August 5th. BTIG Research restated a “hold” rating on shares of PerkinElmer in a report on Friday, August 5th. Mizuho downgraded PerkinElmer from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, October 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $54.92.
In other news, insider Joel S. Goldberg sold 38,095 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $55.00, for a total transaction of $2,095,225.00. Following the transaction, the insider now owns 96,299 shares in the company, valued at approximately $5,296,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel R. Tereau sold 18,866 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $52.00, for a total transaction of $981,032.00. Following the transaction, the insider now owns 21,241 shares in the company, valued at approximately $1,104,532. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.