Tributary Capital Management LLC cut its position in PerkinElmer, Inc. (NYSE:PKI) by 53.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,411 shares of the medical research company’s stock after selling 7,297 shares during the quarter. Tributary Capital Management LLC’s holdings in PerkinElmer were worth $822,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Liberty Wealth Management LLC acquired a new position in shares of PerkinElmer in the 4th quarter valued at approximately $40,000. IronBridge Private Wealth LLC bought a new stake in shares of PerkinElmer during the 4th quarter valued at approximately $38,000. Optimum Investment Advisors bought a new stake in shares of PerkinElmer during the 4th quarter valued at approximately $43,000. Salem Investment Counselors Inc. bought a new stake in shares of PerkinElmer during the 4th quarter valued at approximately $58,000. Finally, Freedman Financial Associates Inc. bought a new stake in shares of PerkinElmer during the 4th quarter valued at approximately $61,000. Institutional investors own 89.44% of the company’s stock.
Shares of PKI stock opened at $133.94 on Thursday. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 0.99 and a beta of 1.19. The business’s fifty day moving average is $128.67 and its 200 day moving average is $136.06. PerkinElmer, Inc. has a twelve month low of $83.05 and a twelve month high of $162.70. The company has a quick ratio of 0.96, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.21%. PerkinElmer’s dividend payout ratio is presently 6.83%.
A number of brokerages have commented on PKI. Citigroup boosted their price objective on PerkinElmer from $150.00 to $155.00 in a report on Wednesday, February 3rd. Wells Fargo & Company upgraded PerkinElmer from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $175.00 in a research note on Thursday, January 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. PerkinElmer has an average rating of “Buy” and a consensus price target of $133.93.
In related news, insider Daniel R. Tereau sold 2,047 shares of the stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $147.07, for a total transaction of $301,052.29. Following the transaction, the insider now owns 10,378 shares in the company, valued at $1,526,292.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by insiders.
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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