Hsbc Holdings PLC lowered its stake in PerkinElmer, Inc. (NYSE:PKI) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,798 shares of the medical research company’s stock after selling 6,539 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of PerkinElmer worth $6,008,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC bought a new position in PerkinElmer in the second quarter valued at approximately $342,000. Massachusetts Financial Services Co. MA lifted its stake in PerkinElmer by 4.4% in the third 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 buying an additional 144,602 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in PerkinElmer in the second quarter valued at approximately $449,000. Sei Investments Co. lifted its stake in PerkinElmer by 1.5% in the second quarter. Sei Investments Co. now owns 113,303 shares of the medical research company’s stock valued at $8,298,000 after buying an additional 1,658 shares in the last quarter. Finally, Rampart Investment Management Company LLC lifted its stake in PerkinElmer by 106.1% in the second quarter. Rampart Investment Management Company LLC now owns 15,912 shares of the medical research company’s stock valued at $1,165,000 after buying an additional 8,191 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
PKI has been the topic of a number of research reports. Cleveland Research raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th. 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 report on Wednesday, October 10th. Janney Montgomery Scott downgraded shares of PerkinElmer from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. 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 report on Monday, September 10th. Finally, 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 report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.84.
In related news, insider Daniel R. Tereau sold 3,308 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $96.58, for a total transaction of $319,486.64. Following the transaction, the insider now directly owns 10,092 shares in the company, valued at $974,685.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick J. Sullivan sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was 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. Over the last 90 days, insiders have sold 29,749 shares of company stock worth $2,641,994. 2.10% of the stock is owned by corporate insiders.
NYSE PKI opened at $83.76 on Friday. 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, Inc. has a 12-month low of $70.15 and a 12-month high of $98.33. The company has a market capitalization of $9.57 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Wednesday, October 31st. The medical research company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $676.72 million. During the same quarter last year, the business earned $0.73 earnings per share. PerkinElmer’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, analysts predict that PerkinElmer, Inc. will post 3.6 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.33%. PerkinElmer’s payout ratio is 9.66%.
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PerkinElmer Company Profile
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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