PerkinElmer, Inc. (NYSE:PKI) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in PerkinElmer, Inc. (NYSE:PKIGet Rating) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,811 shares of the medical research company’s stock after selling 339 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PerkinElmer were worth $1,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in PerkinElmer by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,704 shares of the medical research company’s stock valued at $5,008,000 after acquiring an additional 3,595 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in PerkinElmer by 3.2% during the first quarter. Paradigm Capital Management Inc. NY now owns 84,350 shares of the medical research company’s stock worth $14,716,000 after buying an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in PerkinElmer by 3.7% during the first quarter. The Manufacturers Life Insurance Company now owns 898,929 shares of the medical research company’s stock worth $157,015,000 after buying an additional 31,819 shares in the last quarter. Toroso Investments LLC boosted its stake in PerkinElmer by 11.7% during the first quarter. Toroso Investments LLC now owns 2,186 shares of the medical research company’s stock worth $381,000 after buying an additional 229 shares in the last quarter. Finally, Capital Research Global Investors lifted 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 valued at $2,497,944,000 after acquiring an additional 1,235,625 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

PerkinElmer Stock Performance

PKI opened at $123.23 on Friday. The firm has a market cap 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. PerkinElmer, Inc. has a 52-week low of $123.02 and a 52-week high of $203.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 2.02. The business’s fifty day moving average is $143.07 and its 200-day moving average is $150.39.

PerkinElmer (NYSE:PKIGet Rating) last released its earnings results 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. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. PerkinElmer had a return on equity of 16.68% and a net margin of 13.21%. PerkinElmer’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 EPS. Sell-side analysts expect that PerkinElmer, Inc. will post 7.83 EPS for the current fiscal year.

PerkinElmer Announces Dividend

The firm 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 $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is presently 5.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Credit Suisse Group assumed coverage on PerkinElmer in a report on Wednesday, August 24th. They issued a “neutral” rating and a $175.00 price target for the company. Bank of America cut PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 price objective on the stock. in a research note on Tuesday, August 2nd. UBS Group initiated coverage on PerkinElmer in a research note on Wednesday, July 20th. They set a “buy” rating and a $160.00 price objective on the stock. Robert W. Baird increased their price target on PerkinElmer from $198.00 to $202.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Finally, The Goldman Sachs Group dropped their price target on PerkinElmer from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, July 14th. One 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $162.50.

Insider Activity at PerkinElmer

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

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.

Further Reading

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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