World Asset Management Inc Has $659,000 Position in PerkinElmer, Inc. (PKI)
World Asset Management Inc decreased its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 12.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,670 shares of the medical research company’s stock after selling 1,339 shares during the period. World Asset Management Inc’s holdings in PerkinElmer were worth $659,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in shares of PerkinElmer by 13.4% in the first quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock valued at $1,245,000 after buying an additional 2,531 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of PerkinElmer by 7.2% in the first quarter. Glen Harbor Capital Management LLC now owns 4,512 shares of the medical research company’s stock valued at $262,000 after buying an additional 304 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of PerkinElmer during the first quarter valued at about $1,639,000. Sit Investment Associates Inc. boosted its stake in shares of PerkinElmer by 12.9% in the first quarter. Sit Investment Associates Inc. now owns 17,725 shares of the medical research company’s stock valued at $1,029,000 after buying an additional 2,025 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of PerkinElmer by 5,367.6% in the first quarter. Acadian Asset Management LLC now owns 17,879 shares of the medical research company’s stock valued at $1,038,000 after buying an additional 17,552 shares in the last quarter. 91.47% of the stock is owned by institutional investors.
PerkinElmer, Inc. (NYSE PKI) traded down 0.30% during trading on Friday, hitting $63.47. 403,207 shares of the company were exchanged. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.16. The company has a 50-day moving average of $66.79 and a 200-day moving average of $61.18. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 19.14 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $554.14 million. During the same period in the previous year, the firm earned $0.67 earnings per share. PerkinElmer’s revenue was up 2.0% compared to the same quarter last year. Analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be issued a $0.07 dividend. 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 payout ratio is 8.46%.
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Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research note on Sunday, July 16th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, July 19th. Piper Jaffray Companies upped their price objective on shares of PerkinElmer to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Wells Fargo & Company assumed coverage on shares of PerkinElmer in a research note on Thursday, July 13th. They set a “market perform” rating and a $72.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target (up previously from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $67.00.
In related news, insider Andrew Okun sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the completion of the sale, the insider now directly owns 16,799 shares in the company, valued at $1,091,935. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter Barrett sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $63.22, for a total transaction of $632,200.00. Following the completion of the sale, the director now owns 29,200 shares of the company’s stock, valued at $1,846,024. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
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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