Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in PerkinElmer, Inc. (NYSE:PKI)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,704 shares of the medical research company’s stock after purchasing an additional 3,595 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PerkinElmer were worth $5,008,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of PerkinElmer by 9.4% during 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 purchasing an additional 1,235,625 shares during the period. BlackRock Inc. boosted its holdings in shares of PerkinElmer by 0.5% during the first quarter. BlackRock Inc. now owns 8,432,706 shares of the medical research company’s stock worth $1,471,170,000 after purchasing an additional 38,016 shares during the period. State Street Corp boosted its holdings in shares of PerkinElmer by 1.8% during the first quarter. State Street Corp now owns 5,156,711 shares of the medical research company’s stock worth $899,640,000 after purchasing an additional 91,470 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of PerkinElmer by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,176,151 shares of the medical research company’s stock worth $728,571,000 after purchasing an additional 61,791 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of PerkinElmer by 21.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,900,961 shares of the medical research company’s stock worth $382,207,000 after purchasing an additional 334,146 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

PerkinElmer Price Performance

Shares of PKI opened at $123.23 on Friday. The company has a market capitalization of $15.55 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 0.35 and a beta of 1.14. 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 50 day moving average of $143.07 and a 200 day moving average of $150.39. PerkinElmer, Inc. has a twelve month low of $123.02 and a twelve month high of $203.16.

PerkinElmer (NYSE:PKIGet Rating) last announced its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.31. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 earnings per share. As a group, equities research analysts anticipate that PerkinElmer, Inc. will post 7.83 earnings per share for the current fiscal year.

PerkinElmer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is currently 5.24%.

Insider Activity at PerkinElmer

In other news, insider Andrew Okun sold 3,173 shares of the stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel R. Tereau sold 5,700 shares of PerkinElmer stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $145.14, for a total value of $827,298.00. Following the completion of the sale, the insider now owns 13,380 shares of the company’s stock, valued at $1,941,973.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Okun sold 3,173 shares of PerkinElmer stock in a transaction on Monday, August 1st. The stock was sold at an average price of $165.42, for a total value of $524,877.66. Following the completion of the sale, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PKI. Stifel Nicolaus lowered shares of PerkinElmer from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $170.00 in a report on Thursday, August 18th. UBS Group began coverage on shares of PerkinElmer in a report on Wednesday, July 20th. They issued a “buy” rating and a $160.00 price objective for the company. Bank of America lowered shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 price objective for the company. in a report on Tuesday, August 2nd. Barclays lowered their price objective on shares of PerkinElmer from $149.00 to $140.00 and set an “underweight” rating for the company in a report on Monday, September 12th. Finally, 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 report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.50.

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.

See Also

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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