Moody National Bank Trust Division Purchases New Shares in PerkinElmer, Inc. (NYSE:PKI)

Moody National Bank Trust Division acquired a new position in PerkinElmer, Inc. (NYSE:PKIGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,461 shares of the medical research company’s stock, valued at approximately $208,000.

Several other hedge funds have also added to or reduced their stakes in PKI. Capital Research Global Investors raised its position 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 worth $2,497,944,000 after acquiring an additional 1,235,625 shares during the period. Norges Bank bought a new stake in PerkinElmer in the fourth quarter worth about $247,666,000. BlackRock Inc. raised its position in PerkinElmer by 12.8% in the fourth quarter. BlackRock Inc. now owns 8,394,690 shares of the medical research company’s stock worth $1,687,835,000 after acquiring an additional 953,169 shares during the period. State Street Corp raised its position 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 worth $1,018,417,000 after acquiring an additional 583,525 shares during the period. Finally, Impax Asset Management Group plc raised its position 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 worth $294,847,000 after acquiring an additional 349,547 shares during the period. Institutional investors own 77.06% of the company’s stock.

PerkinElmer Trading Down 2.0 %

NYSE:PKI opened at $127.75 on Wednesday. The company has a fifty day moving average of $143.50 and a 200 day moving average of $150.91. PerkinElmer, Inc. has a 52 week low of $126.41 and a 52 week high of $203.16. The company has a quick ratio of 1.42, a current ratio of 2.02 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $16.13 billion, a P/E ratio of 23.92, a P/E/G ratio of 0.36 and a beta of 1.14.

PerkinElmer (NYSE:PKIGet Rating) last issued its quarterly earnings data on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.01 by $0.31. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $2.83 EPS. On average, research analysts predict that PerkinElmer, Inc. will post 7.83 earnings per share for the current year.

PerkinElmer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Friday, October 21st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s payout ratio is presently 5.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of PerkinElmer from $198.00 to $202.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Credit Suisse Group assumed coverage on shares of PerkinElmer in a research report on Wednesday, August 24th. They issued a “neutral” rating and a $175.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of PerkinElmer from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. UBS Group began coverage on shares of PerkinElmer in a research report on Wednesday, July 20th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Stifel Nicolaus cut shares of PerkinElmer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $170.00 in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $162.50.

Insider Activity

In other news, insider Andrew Okun sold 3,173 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $165.42, for a total value of $524,877.66. Following the transaction, the insider now owns 6,391 shares in the company, valued at approximately $1,057,199.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PerkinElmer news, insider Andrew Okun sold 3,173 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the sale, the insider now owns 6,391 shares in the company, valued at approximately $1,057,199.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James M. Mock sold 5,025 shares of PerkinElmer stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $145.49, for a total transaction of $731,087.25. Following the sale, the insider now owns 27,577 shares in the company, valued at approximately $4,012,177.73. The disclosure for this sale can be found here. Insiders have sold a total of 13,898 shares of company stock valued at $2,083,263 in the last 90 days. 0.52% of the stock is currently owned by insiders.

PerkinElmer Profile

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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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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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