Bank of Montreal Can Has $2.57 Million Stake in PerkinElmer, Inc. (NYSE:PKI)
Bank of Montreal Can raised its position in PerkinElmer, Inc. (NYSE:PKI) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,753 shares of the medical research company’s stock after buying an additional 4,955 shares during the period. Bank of Montreal Can’s holdings in PerkinElmer were worth $2,572,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Prentiss Smith & Co. Inc. raised its stake in shares of PerkinElmer by 30.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 13,705 shares of the medical research company’s stock worth $934,000 after buying an additional 3,235 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of PerkinElmer during the second quarter worth about $222,000. Trust Co raised its stake in shares of PerkinElmer by 22.0% in the first quarter. Trust Co now owns 5,706 shares of the medical research company’s stock worth $331,000 after buying an additional 1,030 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in shares of PerkinElmer by 125.4% in the first quarter. Piedmont Investment Advisors LLC now owns 16,086 shares of the medical research company’s stock worth $934,000 after buying an additional 8,949 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of PerkinElmer during the first quarter worth about $1,312,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of PerkinElmer, Inc. (NYSE PKI) traded down 1.035% during mid-day trading on Thursday, reaching $63.585. The company had a trading volume of 78,300 shares. The company’s 50-day moving average price is $67.63 and its 200-day moving average price is $60.64. The company has a market capitalization of $7.04 billion, a PE ratio of 19.175 and a beta of 0.75. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.16.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547 million during the quarter, compared to analyst estimates of $554.14 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that PerkinElmer, Inc. will post $2.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.
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A number of brokerages have recently issued reports on PKI. Citigroup Inc. lifted their target price on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a research report on Friday, August 4th. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, August 1st. BidaskClub lowered PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six 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 $67.00.
In related news, insider Andrew Okun sold 4,358 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the completion of the transaction, the insider now owns 16,799 shares of the company’s stock, valued at $1,091,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick J. Sullivan sold 6,628 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $62.59, for a total transaction of $414,846.52. Following the sale, the director now directly owns 42,951 shares of the company’s stock, valued at approximately $2,688,303.09. The disclosure for this sale can be found here. Insiders sold 20,986 shares of company stock valued at $1,330,317 in the last three months. Company insiders own 2.20% of the company’s stock.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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