Janney Montgomery Scott LLC boosted its position in PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 6.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,898 shares of the medical research company’s stock after buying an additional 312 shares during the period. Janney Montgomery Scott LLC’s holdings in PerkinElmer were worth $589,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PKI. Pendal Group Ltd bought a new stake in shares of PerkinElmer in the 3rd quarter worth approximately $69,329,000. Massachusetts Financial Services Co. MA grew its position in shares of PerkinElmer by 10.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,624,231 shares of the medical research company’s stock worth $657,660,000 after acquiring an additional 448,080 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of PerkinElmer by 7,468.1% in the 2nd quarter. Renaissance Technologies LLC now owns 401,110 shares of the medical research company’s stock worth $57,046,000 after acquiring an additional 395,810 shares during the period. Assenagon Asset Management S.A. lifted its position in PerkinElmer by 12,947.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 278,818 shares of the medical research company’s stock valued at $39,653,000 after purchasing an additional 276,681 shares during the last quarter. Finally, Robeco Schweiz AG boosted its stake in PerkinElmer by 17.9% during the 2nd quarter. Robeco Schweiz AG now owns 1,250,126 shares of the medical research company’s stock valued at $177,793,000 after purchasing an additional 189,395 shares during the period. Institutional investors and hedge funds own 85.22% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on PKI. Robert W. Baird reduced their price objective on PerkinElmer from $202.00 to $178.00 in a research report on Wednesday, November 9th. Citigroup raised PerkinElmer from a “neutral” rating to a “buy” rating and increased their price target for the stock from $135.00 to $170.00 in a research note on Monday, December 12th. Cowen upgraded shares of PerkinElmer from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $192.00 to $164.00 in a research note on Tuesday, December 6th. Barclays upgraded shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $130.00 to $145.00 in a research report on Monday, November 28th. Finally, Cowen upgraded shares of PerkinElmer from a “market perform” rating to an “outperform” rating and set a $164.00 price target on the stock in a research report on Tuesday, December 6th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PerkinElmer presently has a consensus rating of “Hold” and an average price target of $166.40.
PerkinElmer Stock Performance
PerkinElmer (NYSE:PKI – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The medical research company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.03. PerkinElmer had a net margin of 13.60% and a return on equity of 15.58%. The firm had revenue of $711.80 million for the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts anticipate that PerkinElmer, Inc. will post 7.9 EPS for the current fiscal year.
PerkinElmer Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, January 20th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.20%. PerkinElmer’s dividend payout ratio (DPR) is 5.71%.
Insider Buying and Selling
In other PerkinElmer news, insider Tajinder S. Vohra sold 1,663 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $138.85, for a total transaction of $230,907.55. Following the sale, the insider now directly owns 17,205 shares of the company’s stock, valued at approximately $2,388,914.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.
PerkinElmer Company Profile
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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