Coastal Investment Advisors Inc. Lowers Stock Holdings in PerkinElmer, Inc. (NYSE:PKI)


Share on StockTwits

Coastal Investment Advisors Inc. decreased its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,049 shares of the medical research company’s stock after selling 89 shares during the period. Coastal Investment Advisors Inc.’s holdings in PerkinElmer were worth $1,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in PerkinElmer by 8.3% during the third quarter. Signaturefd LLC now owns 1,101 shares of the medical research company’s stock worth $138,000 after purchasing an additional 84 shares in the last quarter. State of Michigan Retirement System boosted its position in PerkinElmer by 0.4% in the 3rd quarter. State of Michigan Retirement System now owns 28,570 shares of the medical research company’s stock valued at $3,586,000 after buying an additional 100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of PerkinElmer by 1.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,836 shares of the medical research company’s stock valued at $857,000 after purchasing an additional 100 shares in the last quarter. OPSEU Pension Plan Trust Fund raised its holdings in shares of PerkinElmer by 4.3% in the 3rd quarter. OPSEU Pension Plan Trust Fund now owns 2,692 shares of the medical research company’s stock valued at $338,000 after purchasing an additional 111 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of PerkinElmer by 45.3% in the 2nd quarter. Glenmede Trust Co. NA now owns 369 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 92.23% of the company’s stock.

PKI has been the subject of several recent research reports. ValuEngine lowered shares of PerkinElmer from a “hold” rating to a “sell” rating in a report on Monday, November 2nd. Smith Barney Citigroup boosted their price target on shares of PerkinElmer from $140.00 to $150.00 in a report on Friday, December 11th. The Goldman Sachs Group initiated coverage on shares of PerkinElmer in a report on Wednesday, December 2nd. They issued a “buy” rating and a $160.00 price target for the company. Zacks Investment Research lowered shares of PerkinElmer from a “strong-buy” rating to a “hold” rating and set a $126.00 price target for the company. in a report on Monday, September 28th. Finally, KeyCorp initiated coverage on shares of PerkinElmer in a report on Monday, November 9th. They issued a “sector weight” rating and a $150.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $122.19.

PerkinElmer stock traded down $0.46 during mid-day trading on Wednesday, reaching $151.52. The company’s stock had a trading volume of 1,108,493 shares, compared to its average volume of 1,212,137. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.55. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 57.66, a PEG ratio of 1.74 and a beta of 1.30. PerkinElmer, Inc. has a twelve month low of $62.91 and a twelve month high of $162.70. The business has a 50 day moving average price of $143.01 and a 200-day moving average price of $124.98.

PerkinElmer (NYSE:PKI) last posted its earnings results on Wednesday, October 28th. The medical research company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.67. The company had revenue of $964.03 million for the quarter. PerkinElmer had a return on equity of 18.40% and a net margin of 9.87%. On average, equities analysts expect that PerkinElmer, Inc. will post 5.45 EPS for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 22nd will be paid a $1.2144 dividend. The ex-dividend date of this dividend is Monday, December 21st. This represents a dividend yield of 2.91%. PerkinElmer’s payout ratio is 6.83%.

In other news, insider Andrew Okun sold 6,107 shares of PerkinElmer stock in a transaction on Friday, November 6th. The stock was sold at an average price of $140.14, for a total value of $855,834.98. Following the transaction, the insider now owns 16,417 shares in the company, valued at approximately $2,300,678.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel R. Tereau sold 4,094 shares of the business’s stock in a transaction on Monday, December 14th. The stock was sold at an average price of $146.68, for a total value of $600,507.92. In the last quarter, insiders sold 20,837 shares of company stock worth $3,051,743. Corporate insiders own 0.62% of the company’s stock.

PerkinElmer Company Profile

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.

Further Reading: How Do Front-End Loads Impact an Investment?

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.