State of Wisconsin Investment Board Lowers Stake in PerkinElmer Inc. (PKI)
State of Wisconsin Investment Board reduced its stake in PerkinElmer Inc. (NYSE:PKI) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,527 shares of the company’s stock after selling 1,200 shares during the period. State of Wisconsin Investment Board owned about 0.06% of PerkinElmer worth $3,901,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP raised its position in PerkinElmer by 61.9% in the second quarter. Artemis Investment Management LLP now owns 332,703 shares of the company’s stock valued at $17,442,000 after buying an additional 127,152 shares during the last quarter. Eqis Capital Management Inc. bought a new position in PerkinElmer during the second quarter valued at approximately $278,000. Capstone Investment Advisors LLC bought a new position in PerkinElmer during the second quarter valued at approximately $2,314,000. Capital Fund Management S.A. raised its position in PerkinElmer by 876.0% in the second quarter. Capital Fund Management S.A. now owns 109,309 shares of the company’s stock valued at $5,730,000 after buying an additional 98,109 shares during the last quarter. Finally, ING Groep NV bought a new position in PerkinElmer during the second quarter valued at approximately $201,000. 89.63% of the stock is owned by hedge funds and other institutional investors.
Shares of PerkinElmer Inc. (NYSE:PKI) traded down 1.16% during mid-day trading on Monday, hitting $50.94. The stock had a trading volume of 642,450 shares. PerkinElmer Inc. has a 52-week low of $39.50 and a 52-week high of $57.28. The firm has a market cap of $5.58 billion, a PE ratio of 23.72 and a beta of 0.94. The firm has a 50 day moving average price of $51.65 and a 200 day moving average price of $53.68.
PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. PerkinElmer had a return on equity of 14.55% and a net margin of 10.48%. The business had revenue of $548 million for the quarter, compared to analysts’ expectations of $572.03 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. Equities analysts predict that PerkinElmer Inc. will post $2.77 EPS for the current year.
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. This represents a $0.28 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is presently 13.02%.
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Several research analysts have recently commented on PKI shares. Zacks Investment Research lowered PerkinElmer from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Morgan Stanley set a $61.00 target price on PerkinElmer and gave the company a “buy” rating in a research report on Friday, August 5th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 target price on shares of PerkinElmer in a research report on Tuesday, November 8th. Jefferies Group upped their target price on PerkinElmer from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, BTIG Research reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.92.
In other PerkinElmer news, insider Joel S. Goldberg sold 38,095 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total transaction of $2,095,225.00. Following the transaction, the insider now owns 96,299 shares in the company, valued at approximately $5,296,445. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 18,866 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $52.00, for a total value of $981,032.00. Following the transaction, the insider now owns 21,241 shares in the company, valued at approximately $1,104,532. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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