Insider Selling: PerkinElmer, Inc. (NYSE:PKI) Insider Sells 6,699 Shares of Stock
PerkinElmer, Inc. (NYSE:PKI) insider Andrew Okun sold 6,699 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total transaction of $803,880.00. Following the transaction, the insider now directly owns 17,009 shares of the company’s stock, valued at $2,041,080. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
PKI opened at $118.81 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.30 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $13.33 billion, a PE ratio of 25.73, a PEG ratio of 1.74 and a beta of 1.37. PerkinElmer, Inc. has a 1-year low of $62.91 and a 1-year high of $121.44. The firm has a 50-day moving average price of $102.34 and a two-hundred day moving average price of $92.22.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.87. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. The firm had revenue of $811.91 million during the quarter, compared to analysts’ expectations of $703.32 million. During the same quarter last year, the company posted $1.00 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, research analysts predict that PerkinElmer, Inc. will post 4.4 EPS for the current year.
A number of equities analysts have recently commented on PKI shares. Citigroup raised their price objective on shares of PerkinElmer from $70.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. UBS Group lifted their price target on shares of PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Stifel Nicolaus lifted their price target on shares of PerkinElmer from $95.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Co lifted their price target on shares of PerkinElmer from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Needham & Company LLC started coverage on shares of PerkinElmer in a report on Monday, July 13th. They set a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and a consensus price target of $95.13.
Large investors have recently modified their holdings of the company. Profund Advisors LLC acquired a new stake in shares of PerkinElmer during the 4th quarter worth approximately $211,000. DNB Asset Management AS grew its position in shares of PerkinElmer by 8.4% during the 2nd quarter. DNB Asset Management AS now owns 13,861 shares of the medical research company’s stock worth $1,360,000 after buying an additional 1,071 shares during the period. APG Asset Management N.V. grew its holdings in PerkinElmer by 59.8% during the first quarter. APG Asset Management N.V. now owns 144,148 shares of the medical research company’s stock valued at $10,851,000 after purchasing an additional 53,918 shares during the period. Boston Trust Walden Corp grew its holdings in PerkinElmer by 8.7% during the second quarter. Boston Trust Walden Corp now owns 167,465 shares of the medical research company’s stock valued at $16,427,000 after purchasing an additional 13,404 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in PerkinElmer by 6.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 8,000 shares of the medical research company’s stock valued at $602,000 after purchasing an additional 500 shares during the period. Institutional investors own 93.34% 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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