King Luther Capital Management Corp reduced its position in PerkinElmer, Inc. (NYSE:PKI) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,507,187 shares of the medical research company’s stock after selling 7,325 shares during the quarter. PerkinElmer makes up about 1.8% of King Luther Capital Management Corp’s portfolio, making the stock its 11th largest position. King Luther Capital Management Corp owned 2.25% of PerkinElmer worth $243,874,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PKI. FMR LLC boosted its stake in shares of PerkinElmer by 84.1% in the 3rd quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock valued at $135,194,000 after purchasing an additional 634,806 shares during the last quarter. Select Equity Group L.P. boosted its stake in PerkinElmer by 7.2% during the second quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock worth $631,754,000 after acquiring an additional 578,940 shares in the last quarter. BlackRock Inc. boosted its stake in PerkinElmer by 7.6% during the third quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock worth $634,084,000 after acquiring an additional 463,251 shares in the last quarter. State Treasurer State of Michigan boosted its stake in PerkinElmer by 1,039.8% during the third quarter. State Treasurer State of Michigan now owns 373,029 shares of the medical research company’s stock worth $36,285,000 after acquiring an additional 340,300 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in PerkinElmer by 4.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock worth $332,004,000 after acquiring an additional 144,602 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

In other PerkinElmer news, insider Daniel R. Tereau sold 3,308 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $96.58, for a total value of $319,486.64. Following the transaction, the insider now directly owns 10,092 shares of the company’s stock, valued at $974,685.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick J. Sullivan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $81.64, for a total transaction of $816,400.00. The disclosure for this sale can be found here. Insiders sold 29,749 shares of company stock worth $2,641,994 over the last ninety days. Insiders own 2.10% of the company’s stock.

Several research analysts recently issued reports on the stock. Barclays raised shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $79.00 to $90.00 in a research note on Wednesday, September 5th. Cleveland Research raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th. Janney Montgomery Scott lowered shares of PerkinElmer from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. UBS Group assumed coverage on shares of PerkinElmer in a research note on Tuesday, October 9th. They set a “neutral” rating and a $100.00 target price on the stock. Finally, Deutsche Bank increased their target price on shares of PerkinElmer from $88.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, September 10th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. PerkinElmer presently has a consensus rating of “Hold” and an average price target of $87.84.

PerkinElmer stock opened at $86.66 on Wednesday. PerkinElmer, Inc. has a 1-year low of $69.21 and a 1-year high of $98.33. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.18 and a current ratio of 1.70.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data 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 net margin of 4.71% and a return on equity of 15.04%. The business had revenue of $674.30 million during the quarter, compared to the consensus estimate of $676.72 million. During the same period last year, the business posted $0.73 earnings per share. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. Equities research analysts predict that PerkinElmer, Inc. will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date 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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