PerkinElmer, Inc. (NYSE:PKI) Insider Sells $524,877.66 in Stock

PerkinElmer, Inc. (NYSE:PKIGet Rating) insider Andrew Okun sold 3,173 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $165.42, for a total transaction of $524,877.66. Following the sale, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

PerkinElmer Stock Up 0.5 %

PKI stock opened at $153.72 on Friday. The firm has a 50 day simple moving average of $144.81 and a 200-day simple moving average of $159.15. PerkinElmer, Inc. has a twelve month low of $130.65 and a twelve month high of $203.16. The company has a market capitalization of $19.39 billion, a P/E ratio of 28.79, a PEG ratio of 0.42 and a beta of 1.12. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68.

PerkinElmer (NYSE:PKIGet Rating) last announced its quarterly earnings data on Monday, August 1st. The medical research company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.31. PerkinElmer had a return on equity of 16.72% and a net margin of 13.21%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that PerkinElmer, Inc. will post 7.83 earnings per share for the current fiscal year.

PerkinElmer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.18%. The ex-dividend date is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is presently 5.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of PerkinElmer from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Citigroup lowered their price objective on shares of PerkinElmer from $185.00 to $170.00 in a research report on Wednesday, May 4th. Bank of America downgraded shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 price objective for the company. in a research report on Tuesday. UBS Group initiated coverage on shares of PerkinElmer in a research report on Wednesday, July 20th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Robert W. Baird raised their price target on shares of PerkinElmer from $198.00 to $202.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $161.13.

Hedge Funds Weigh In On PerkinElmer

Several large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in PerkinElmer by 9.4% in the first quarter. Capital Research Global Investors now owns 14,317,805 shares of the medical research company’s stock valued at $2,497,944,000 after buying an additional 1,235,625 shares during the last quarter. Norges Bank bought a new stake in PerkinElmer in the fourth quarter valued at $247,666,000. BlackRock Inc. lifted its stake in PerkinElmer by 12.8% in the fourth quarter. BlackRock Inc. now owns 8,394,690 shares of the medical research company’s stock valued at $1,687,835,000 after buying an additional 953,169 shares during the last quarter. State Street Corp lifted its stake in PerkinElmer by 13.0% in the fourth quarter. State Street Corp now owns 5,065,241 shares of the medical research company’s stock valued at $1,018,417,000 after buying an additional 583,525 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in PerkinElmer by 31.3% in the fourth quarter. Impax Asset Management Group plc now owns 1,466,461 shares of the medical research company’s stock valued at $294,847,000 after buying an additional 349,547 shares during the last quarter. 89.27% of the stock is currently owned by institutional investors.

About PerkinElmer

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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