Crawford Investment Counsel Inc. lessened its position in PerkinElmer, Inc. (NYSE:PKI) by 20.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,820 shares of the medical research company’s stock after selling 2,040 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in PerkinElmer were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC bought a new stake in shares of PerkinElmer during the first quarter valued at approximately $25,000. Amica Retiree Medical Trust bought a new stake in PerkinElmer in the 2nd quarter worth approximately $48,000. Coastal Capital Group Inc. bought a new stake in PerkinElmer in the 2nd quarter worth approximately $58,000. Signaturefd LLC grew its position in PerkinElmer by 171.5% in the 1st quarter. Signaturefd LLC now owns 809 shares of the medical research company’s stock worth $78,000 after purchasing an additional 511 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of PerkinElmer during the 2nd quarter valued at $78,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PKI. Raymond James began coverage on shares of PerkinElmer in a research report on Wednesday, July 10th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Thursday, May 30th. ValuEngine cut shares of PerkinElmer from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Wolfe Research began coverage on shares of PerkinElmer in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. Finally, Wood & Company reiterated an “average” rating and issued a $49.00 price target on shares of PerkinElmer in a research note on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $76.23.
In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $82.56, for a total value of $165,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.
Shares of PKI traded up $0.61 during mid-day trading on Friday, hitting $86.73. The company’s stock had a trading volume of 3,269 shares, compared to its average volume of 602,311. PerkinElmer, Inc. has a 52-week low of $71.83 and a 52-week high of $103.00. The company’s 50-day moving average is $84.28 and its 200-day moving average is $91.45. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.52 and a beta of 1.29.
PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, July 29th. The medical research company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The firm had revenue of $722.50 million for the quarter, compared to analysts’ expectations of $729.10 million. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that PerkinElmer, Inc. will post 4.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. PerkinElmer’s dividend payout ratio is currently 7.76%.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
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