California Public Employees Retirement System Has $16 Million Position in PerkinElmer, Inc. (PKI)
California Public Employees Retirement System reduced its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,600 shares of the medical research company’s stock after selling 1,600 shares during the period. California Public Employees Retirement System owned about 0.25% of PerkinElmer worth $16,001,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in PerkinElmer by 28.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock worth $115,000 after buying an additional 434 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PerkinElmer during the first quarter worth $152,000. Federated Investors Inc. PA raised its position in PerkinElmer by 158.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,997 shares of the medical research company’s stock worth $156,000 after buying an additional 1,837 shares in the last quarter. LS Investment Advisors LLC raised its position in PerkinElmer by 36.9% in the first quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after buying an additional 759 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new position in PerkinElmer during the fourth quarter worth $198,000. 92.70% of the stock is owned by institutional investors and hedge funds.
Shares of PerkinElmer, Inc. (NYSE:PKI) traded down 0.45% during trading on Friday, reaching $63.57. 961,272 shares of the company traded hands. The firm has a 50-day moving average price of $62.63 and a 200-day moving average price of $56.70. The firm has a market capitalization of $7.00 billion, a PE ratio of 30.99 and a beta of 0.73. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $65.35.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The business had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts anticipate that PerkinElmer, Inc. will post $2.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date is Wednesday, July 19th. PerkinElmer’s payout ratio is presently 13.66%.
A number of research firms have recently weighed in on PKI. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of PerkinElmer in a research report on Monday, May 15th. BidaskClub lowered shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald lowered shares of PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, April 19th. Citigroup Inc. boosted their price objective on shares of PerkinElmer from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Finally, Janney Montgomery Scott raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research report on Monday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.30.
In related news, Director Patrick J. Sullivan sold 6,628 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $62.59, for a total transaction of $414,846.52. Following the transaction, the director now owns 42,951 shares of the company’s stock, valued at $2,688,303.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Barrett sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $63.22, for a total transaction of $632,200.00. Following the transaction, the director now directly owns 29,200 shares in the company, valued at approximately $1,846,024. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,565 shares of company stock worth $10,228,809. 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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