PerkinElmer, Inc. (PKI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in PerkinElmer, Inc. (NYSE:PKI) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,137 shares of the medical research company’s stock after selling 21,122 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of PerkinElmer worth $13,985,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Waldron Private Wealth LLC purchased a new stake in PerkinElmer in the 1st quarter worth $222,000. Icon Advisers Inc. Co. increased its stake in PerkinElmer by 19.8% in the 1st quarter. Icon Advisers Inc. Co. now owns 115,078 shares of the medical research company’s stock worth $11,089,000 after buying an additional 19,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PerkinElmer in the 1st quarter worth $491,000. Nikko Asset Management Americas Inc. purchased a new stake in PerkinElmer in the 1st quarter worth $4,516,000. Finally, Quantamental Technologies LLC increased its stake in PerkinElmer by 69.1% in the 1st quarter. Quantamental Technologies LLC now owns 5,872 shares of the medical research company’s stock worth $566,000 after buying an additional 2,400 shares in the last quarter. 96.25% of the stock is currently owned by institutional investors.

Shares of PerkinElmer stock opened at $89.04 on Thursday. The stock has a market cap of $9.77 billion, a PE ratio of 24.66, a PEG ratio of 1.56 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.68 and a debt-to-equity ratio of 0.70. PerkinElmer, Inc. has a twelve month low of $71.31 and a twelve month high of $103.00.

PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company had revenue of $648.70 million during the quarter, compared to analyst estimates of $645.38 million. PerkinElmer had a return on equity of 15.98% and a net margin of 8.89%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. Analysts anticipate that PerkinElmer, Inc. will post 4.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.31%. PerkinElmer’s dividend payout ratio is currently 7.76%.

A number of equities research analysts have issued reports on PKI shares. Desjardins reiterated an “average” rating and issued a $45.00 price target on shares of PerkinElmer in a research note on Wednesday, January 16th. Zacks Investment Research lowered PerkinElmer from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Royal Bank of Canada restated a “hold” rating and set a $41.00 price objective on shares of PerkinElmer in a research report on Friday, May 3rd. Piper Jaffray Companies raised their price objective on PerkinElmer to $104.00 and gave the company an “overweight” rating in a research report on Friday, February 1st. Finally, UBS Group set a $92.00 price objective on PerkinElmer and gave the company a “hold” rating in a research report on Saturday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PerkinElmer currently has an average rating of “Hold” and a consensus price target of $82.32.

In related news, insider Prahlad R. Singh sold 3,289 shares of PerkinElmer stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $102.39, for a total value of $336,760.71. Following the completion of the transaction, the insider now owns 28,242 shares in the company, valued at $2,891,698.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 24,465 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.81, for a total transaction of $2,270,596.65. Following the completion of the sale, the insider now directly owns 84,277 shares of the company’s stock, valued at approximately $7,821,748.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,274 shares of company stock valued at $5,238,106. 1.80% of the stock is currently owned by company insiders.

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PerkinElmer Company Profile

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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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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