Bessemer Group Inc. raised its stake in PerkinElmer, Inc. (NYSE:PKI) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,213 shares of the medical research company’s stock after buying an additional 2,845 shares during the period. Bessemer Group Inc.’s holdings in PerkinElmer were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PKI. ING Groep NV raised its position in shares of PerkinElmer by 0.6% in the second quarter. ING Groep NV now owns 6,057 shares of the medical research company’s stock valued at $413,000 after buying an additional 38 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of PerkinElmer by 0.4% in the second quarter. CIBC Asset Management Inc now owns 9,549 shares of the medical research company’s stock valued at $651,000 after buying an additional 40 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC raised its position in shares of PerkinElmer by 0.3% in the second quarter. Tributary Capital Management LLC now owns 22,300 shares of the medical research company’s stock valued at $1,520,000 after buying an additional 75 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of PerkinElmer by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 14,777 shares of the medical research company’s stock valued at $1,007,000 after buying an additional 83 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

Shares of PerkinElmer, Inc. (PKI) opened at 63.93 on Friday. The stock has a 50 day moving average price of $67.37 and a 200 day moving average price of $60.75. PerkinElmer, Inc. has a 52 week low of $45.35 and a 52 week high of $70.16. The firm has a market capitalization of $7.05 billion, a PE ratio of 19.28 and a beta of 0.75.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547 million during the quarter, compared to analysts’ expectations of $554.14 million. During the same period in the prior year, the company earned $0.67 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that PerkinElmer, Inc. will post $2.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. PerkinElmer’s dividend payout ratio (DPR) is 8.46%.

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Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $65.00 price objective on shares of PerkinElmer in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $69.00 price objective (up from $58.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Barclays PLC set a $55.00 price objective on PerkinElmer and gave the stock a “sell” rating in a research report on Saturday, May 6th. Cowen and Company reiterated a “market perform” rating and issued a $70.00 price objective (up from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Finally, BidaskClub lowered PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. PerkinElmer has an average rating of “Hold” and an average target price of $67.00.

In related news, insider Andrew Okun sold 4,358 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the sale, the insider now directly owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Barrett sold 10,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the sale, the director now directly owns 29,200 shares of the company’s stock, valued at $1,846,024. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,986 shares of company stock valued at $1,330,317. 2.20% of the stock is owned by corporate insiders.

About PerkinElmer

PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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