Insider Selling: PerkinElmer, Inc. (PKI) Insider Sells 3,308 Shares of Stock
PerkinElmer, Inc. (NYSE:PKI) insider Daniel R. Tereau sold 3,308 shares of PerkinElmer stock in a transaction on Monday, September 24th. The stock was sold at an average price of $96.58, for a total value of $319,486.64. Following the transaction, the insider now owns 10,092 shares in the company, valued at approximately $974,685.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE:PKI traded down $0.09 during midday trading on Tuesday, reaching $96.20. 34,541 shares of the company’s stock were exchanged, compared to its average volume of 538,371. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.14 and a beta of 1.01. PerkinElmer, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $97.51.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Wednesday, August 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $703.55 million during the quarter, compared to the consensus estimate of $694.70 million. PerkinElmer had a return on equity of 14.25% and a net margin of 5.51%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. equities research analysts predict that PerkinElmer, Inc. will post 3.65 earnings per share for the current fiscal year.
Several research firms have recently commented on PKI. Barclays upgraded PerkinElmer from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $79.00 to $90.00 in a report on Wednesday, September 5th. Cleveland Research upgraded PerkinElmer from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Robert W. Baird reiterated a “buy” rating and set a $89.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Bank of America lifted their price target on PerkinElmer from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Finally, Cowen reiterated a “hold” rating and set a $85.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $82.53.
Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in PerkinElmer by 17.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,870 shares of the medical research company’s stock valued at $445,000 after acquiring an additional 854 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in PerkinElmer in the 1st quarter valued at about $203,000. Toronto Dominion Bank grew its position in PerkinElmer by 26.9% in the 1st quarter. Toronto Dominion Bank now owns 52,004 shares of the medical research company’s stock valued at $3,936,000 after acquiring an additional 11,022 shares in the last quarter. Norinchukin Bank The grew its position in PerkinElmer by 14.9% in the 1st quarter. Norinchukin Bank The now owns 10,126 shares of the medical research company’s stock valued at $767,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in PerkinElmer by 4.1% in the 1st quarter. Schroder Investment Management Group now owns 731,492 shares of the medical research company’s stock valued at $55,388,000 after acquiring an additional 28,894 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.
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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