Eaton Vance Management Increases Holdings in PerkinElmer, Inc. (PKI)

Eaton Vance Management raised its holdings in shares of PerkinElmer, Inc. (NYSE:PKI) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,811 shares of the medical research company’s stock after acquiring an additional 5,932 shares during the period. Eaton Vance Management’s holdings in PerkinElmer were worth $4,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in PerkinElmer during the 2nd quarter valued at approximately $342,000. Massachusetts Financial Services Co. MA lifted its stake in PerkinElmer by 4.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after acquiring an additional 144,602 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in PerkinElmer during the 2nd quarter valued at approximately $449,000. Sei Investments Co. lifted its stake in PerkinElmer by 1.5% during the 2nd quarter. Sei Investments Co. now owns 113,303 shares of the medical research company’s stock valued at $8,298,000 after acquiring an additional 1,658 shares during the period. Finally, Rampart Investment Management Company LLC lifted its stake in PerkinElmer by 106.1% during the 2nd quarter. Rampart Investment Management Company LLC now owns 15,912 shares of the medical research company’s stock valued at $1,165,000 after acquiring an additional 8,191 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Several brokerages have commented on PKI. UBS Group began coverage on shares of PerkinElmer in a research note on Tuesday, October 9th. They set a “neutral” rating and a $100.00 price objective for the company. Deutsche Bank lifted their price objective on shares of PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Barclays upgraded shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $79.00 to $90.00 in a research note on Wednesday, September 5th. Janney Montgomery Scott cut shares of PerkinElmer from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, Morgan Stanley lifted their price objective on shares of PerkinElmer from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $87.84.

NYSE:PKI opened at $83.76 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.73. The company has a market cap of $9.64 billion, a PE ratio of 28.88, a PEG ratio of 1.93 and a beta of 1.12. PerkinElmer, Inc. has a 1-year low of $70.15 and a 1-year high of $98.33.

PerkinElmer (NYSE:PKI) last posted its earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $674.30 million for the quarter, compared to analysts’ expectations of $676.72 million. PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. PerkinElmer’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. Analysts expect that PerkinElmer, Inc. will post 3.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.

In other news, insider Deborah A. Butters sold 3,266 shares of PerkinElmer stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $97.70, for a total transaction of $319,088.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas A. Lopardo sold 2,000 shares of PerkinElmer stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $82.12, for a total transaction of $164,240.00. Following the transaction, the director now directly owns 1,661 shares of the company’s stock, valued at $136,401.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,749 shares of company stock valued at $2,641,994. Insiders own 2.10% of the company’s stock.

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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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