Virginia Retirement Systems ET AL Sells 600 Shares of PerkinElmer, Inc. (NYSE:PKI)

Virginia Retirement Systems ET AL lessened its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,800 shares of the medical research company’s stock after selling 600 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.14% of PerkinElmer worth $24,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC grew its stake in shares of PerkinElmer by 64.5% in the first quarter. Quadrant Capital Group LLC now owns 204 shares of the medical research company’s stock worth $26,000 after purchasing an additional 80 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of PerkinElmer by 289.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 214 shares of the medical research company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. Lipe & Dalton acquired a new stake in shares of PerkinElmer in the 2nd quarter worth about $31,000. Harvest Fund Management Co. Ltd grew its position in PerkinElmer by 66.7% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 335 shares of the medical research company’s stock worth $51,000 after purchasing an additional 134 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its position in PerkinElmer by 97.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 484 shares of the medical research company’s stock worth $62,000 after purchasing an additional 239 shares in the last quarter. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider James M. Mock sold 6,080 shares of the company’s stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $184.87, for a total value of $1,124,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Shares of NYSE:PKI traded up $4.15 during trading on Thursday, reaching $172.15. The stock had a trading volume of 3,609 shares, compared to its average volume of 855,412. PerkinElmer, Inc. has a one year low of $119.94 and a one year high of $192.00. The company has a market capitalization of $19.30 billion, a P/E ratio of 16.35, a PEG ratio of 0.50 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $181.51 and its 200 day simple moving average is $158.50.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Sunday, July 25th. The medical research company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.43. PerkinElmer had a net margin of 24.35% and a return on equity of 37.29%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $1.23 EPS. Equities research analysts forecast that PerkinElmer, Inc. will post 9.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 22nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 21st. This represents a $0.28 dividend on an annualized basis and a yield of 0.16%. PerkinElmer’s dividend payout ratio (DPR) is presently 3.37%.

A number of research firms have recently weighed in on PKI. Royal Bank of Canada increased their target price on shares of PerkinElmer from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $172.11 target price (up from $150.00) on shares of PerkinElmer in a research note on Tuesday, July 27th. Finally, Evercore ISI restated an “outperform” rating and set a $170.86 price objective (down previously from $174.00) on shares of PerkinElmer in a research report on Tuesday, July 27th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $152.50.

PerkinElmer Profile

PerkinElmer, Inc engages in the provision of products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment comprises of technologies that help life sciences researchers better understand diseases and develop treatments.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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