Axa cut its stake in PerkinElmer, Inc. (NYSE:PKI) by 45.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the medical research company’s stock after selling 7,000 shares during the quarter. Axa’s holdings in PerkinElmer were worth $827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Riverhead Capital Management LLC increased its stake in shares of PerkinElmer by 9.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,795 shares of the medical research company’s stock worth $498,000 after acquiring an additional 602 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of PerkinElmer by 0.9% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 79,750 shares of the medical research company’s stock worth $5,840,000 after purchasing an additional 750 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in shares of PerkinElmer by 7.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 14,206 shares of the medical research company’s stock worth $1,369,000 after purchasing an additional 988 shares during the period. Swiss National Bank grew its holdings in shares of PerkinElmer by 0.5% during the 3rd quarter. Swiss National Bank now owns 193,000 shares of the medical research company’s stock worth $18,773,000 after purchasing an additional 1,000 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of PerkinElmer during the 3rd quarter worth $107,000. 94.82% of the stock is owned by institutional investors and hedge funds.

In related news, insider Deborah A. Butters sold 3,266 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $97.70, for a total transaction of $319,088.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Sullivan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $81.64, for a total value of $816,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,749 shares of company stock valued at $2,641,994 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on PKI shares. Barclays upgraded PerkinElmer from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $79.00 to $90.00 in a report on Wednesday, September 5th. UBS Group started coverage on PerkinElmer in a report on Tuesday, October 9th. They set a “neutral” rating and a $100.00 price target for the company. Cleveland Research upgraded PerkinElmer from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Morgan Stanley increased their price target on PerkinElmer from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. Finally, Deutsche Bank increased their price target on PerkinElmer from $88.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, September 10th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $87.84.

NYSE PKI opened at $83.76 on Friday. The firm has a market cap of $9.64 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18. PerkinElmer, Inc. has a twelve month low of $70.15 and a twelve month high of $98.33.

PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The business had revenue of $674.30 million for the quarter, compared to analysts’ expectations of $676.72 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts expect that PerkinElmer, Inc. will post 3.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.

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About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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