Beaumont Financial Advisors LLC acquired a new stake in PerkinElmer, Inc. (NYSE:PKI – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 37,985 shares of the medical research company’s stock, valued at approximately $5,326,000.
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Other institutional investors have also recently bought and sold shares of the company. Ceredex Value Advisors LLC acquired a new position in shares of PerkinElmer in the 4th quarter valued at approximately $85,717,000. Pendal Group Ltd acquired a new position in shares of PerkinElmer in the 3rd quarter valued at approximately $69,329,000. Echo Street Capital Management LLC increased its position in PerkinElmer by 31.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 3rd quarter. Echo Street Capital Management LLC now owns 911,256 shares of the medical research company’s stock worth $109,651,000 after purchasing an additional 220,318 shares in the last quarter. Alliancebernstein L.P. increased its position in PerkinElmer by 15.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 3rd quarter. Alliancebernstein L.P. now owns 1,568,593 shares of the medical research company’s stock worth $188,749,000 after purchasing an additional 212,718 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in PerkinElmer by 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the 3rd quarter. Vanguard Group Inc. now owns 14,071,112 shares of the medical research company’s stock worth $1,693,176,000 after purchasing an additional 151,569 shares in the last quarter. Institutional investors own 85.22{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of PerkinElmer in a research note on Wednesday, February 15th. Barclays decreased their price objective on shares of PerkinElmer from $145.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 24th. Robert W. Baird decreased their price objective on shares of PerkinElmer from $185.00 to $182.00 and set an “outperform” rating for the company in a report on Wednesday, February 15th. Cowen upgraded shares of PerkinElmer from a “market perform” rating to an “outperform” rating and set a $164.00 target price for the company in a research report on Tuesday, December 6th. Finally, TheStreet raised shares of PerkinElmer from a “c+” rating to a “b” rating in a research note on Tuesday, February 14th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PerkinElmer presently has a consensus rating of “Hold” and an average price target of $166.30.
Insider Transactions at PerkinElmer
In other news, insider Daniel R. Tereau sold 10,741 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $123.72, for a total value of $1,328,876.52. Following the completion of the transaction, the insider now owns 11,611 shares in the company, valued at $1,436,512.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Daniel R. Tereau sold 10,741 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $123.72, for a total transaction of $1,328,876.52. Following the transaction, the insider now directly owns 11,611 shares of the company’s stock, valued at approximately $1,436,512.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Maxwell Krakowiak sold 322 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $130.00, for a total transaction of $41,860.00. Following the sale, the insider now directly owns 7,202 shares of the company’s stock, valued at approximately $936,260. The disclosure for this sale can be found here. Insiders own 0.52{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.
PerkinElmer Trading Down 1.2 {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
NYSE:PKI traded down $1.62 during trading hours on Monday, hitting $131.64. The company had a trading volume of 250,846 shares, compared to its average volume of 861,372. The company has a market capitalization of $16.64 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The stock has a 50-day moving average price of $130.79 and a 200 day moving average price of $132.55. PerkinElmer, Inc. has a 52 week low of $113.46 and a 52 week high of $174.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.13 and a quick ratio of 1.87.
PerkinElmer (NYSE:PKI – Get Rating) last announced its earnings results on Tuesday, February 14th. The medical research company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.04. The firm had revenue of $741.20 million for the quarter, compared to analysts’ expectations of $1.07 billion. PerkinElmer had a net margin of 14.69{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 13.94{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The company’s quarterly revenue was down 27.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a year-over-year basis. During the same quarter in the previous year, the business posted $2.56 EPS. On average, equities research analysts predict that PerkinElmer, Inc. will post 5.06 EPS for the current fiscal year.
PerkinElmer Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 21st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $0.28 annualized dividend and a yield of 0.21{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. PerkinElmer’s dividend payout ratio (DPR) is presently 6.11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
About PerkinElmer
PerkinElmer, Inc engages in the provision of products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment consists of technologies that help life sciences researchers better understand diseases and develop treatments.
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