Harvest Management LLC Holds Position in PerkinElmer, Inc. (PKI)
Harvest Management LLC held its position in PerkinElmer, Inc. (NYSE:PKI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,462 shares of the medical research company’s stock at the end of the 2nd quarter. Harvest Management LLC’s holdings in PerkinElmer were worth $236,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PKI. Waldron LP bought a new stake in PerkinElmer during the 1st quarter worth approximately $233,000. Russell Investments Group Ltd. grew its holdings in PerkinElmer by 13.4% during the 1st quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock worth $1,245,000 after acquiring an additional 2,531 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in PerkinElmer by 143.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,600 shares of the medical research company’s stock worth $325,000 after acquiring an additional 3,300 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in PerkinElmer by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,049,537 shares of the medical research company’s stock worth $60,937,000 after acquiring an additional 27,484 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in PerkinElmer by 36.9% during the 1st quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after acquiring an additional 759 shares during the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
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PerkinElmer, Inc. (PKI) traded down 0.56% on Friday, hitting $67.82. 98,072 shares of the company were exchanged. The stock has a 50 day moving average of $66.08 and a 200 day moving average of $63.21. PerkinElmer, Inc. has a 52 week low of $45.35 and a 52 week high of $70.16. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 20.45 and a beta of 0.74.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $554.14 million. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts predict that PerkinElmer, Inc. will post $2.89 EPS for the current fiscal year.
The business also recently declared 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. This represents a $0.28 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
A number of equities research analysts have recently commented on PKI shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $69.00 price objective (up from $58.00) on shares of PerkinElmer in a research note on Tuesday, June 20th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research note on Sunday, July 16th. BidaskClub lowered shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $81.00 price objective on shares of PerkinElmer in a research note on Friday, August 4th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $70.00 price objective (up from $61.00) on shares of PerkinElmer in a research note on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.00.
PerkinElmer Company Profile
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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