Hsbc Holdings PLC trimmed its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,225 shares of the medical research company’s stock after selling 15,573 shares during the period. Hsbc Holdings PLC’s holdings in PerkinElmer were worth $3,631,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in PKI. Wells Fargo & Company MN boosted its holdings in shares of PerkinElmer by 17.5% in the 3rd quarter. Wells Fargo & Company MN now owns 149,800 shares of the medical research company’s stock worth $14,572,000 after purchasing an additional 22,290 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of PerkinElmer in the 3rd quarter worth approximately $409,000. ING Groep NV purchased a new position in shares of PerkinElmer in the 3rd quarter worth approximately $264,000. SG Americas Securities LLC purchased a new position in shares of PerkinElmer in the 3rd quarter worth approximately $1,463,000. Finally, Montag A & Associates Inc. purchased a new position in shares of PerkinElmer in the 3rd quarter worth approximately $253,000. Institutional investors and hedge funds own 95.34% of the company’s stock.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Thursday, January 3rd. Needham & Company LLC assumed coverage on PerkinElmer in a report on Wednesday, January 2nd. They issued a “hold” rating and a $79.00 target price for the company. UBS Group set a $92.00 price objective on PerkinElmer and gave the company a “hold” rating in a report on Saturday, February 2nd. Cowen restated a “hold” rating and set a $85.00 price objective on shares of PerkinElmer in a report on Sunday, January 6th. Finally, Piper Jaffray Companies boosted their price objective on PerkinElmer to $104.00 and gave the company an “overweight” rating in a report on Friday, February 1st. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. PerkinElmer has a consensus rating of “Hold” and an average price target of $80.99.
PKI opened at $94.04 on Friday. PerkinElmer, Inc. has a 52-week low of $70.83 and a 52-week high of $98.33. The firm has a market cap of $10.42 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.16.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. The business had revenue of $756.35 million during the quarter, compared to analysts’ expectations of $746.15 million. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts forecast that PerkinElmer, Inc. will post 4.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s dividend payout ratio is 7.76%.
In other news, insider Daniel R. Tereau sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $93.27, for a total value of $111,924.00. Following the completion of the transaction, the insider now directly owns 5,839 shares of the company’s stock, valued at approximately $544,603.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicholas A. Lopardo sold 1,600 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. Insiders sold a total of 34,984 shares of company stock valued at $3,252,048 over the last quarter. Company insiders own 2.10% of the company’s stock.
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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