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 (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.
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