Carret Asset Management LLC Invests $210,000 in PerkinElmer, Inc. (PKI) Stock
Carret Asset Management LLC purchased a new stake in shares of PerkinElmer, Inc. (NYSE:PKI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,080 shares of the medical research company’s stock, valued at approximately $210,000.
A number of other hedge funds also recently made changes to their positions in PKI. Waldron LP purchased a new position in PerkinElmer during the first quarter valued at approximately $233,000. Russell Investments Group Ltd. raised its position in PerkinElmer by 13.4% during 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 acquiring an additional 2,531 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in PerkinElmer by 15.0% during the first quarter. UBS Asset Management Americas Inc. now owns 73,057 shares of the medical research company’s stock valued at $4,242,000 after acquiring an additional 9,507 shares in the last quarter. Mutual of America Capital Management LLC raised its position in PerkinElmer by 1.5% during the first quarter. Mutual of America Capital Management LLC now owns 13,020 shares of the medical research company’s stock valued at $756,000 after acquiring an additional 190 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in PerkinElmer during the first quarter valued at approximately $152,000. Institutional investors own 91.47% of the company’s stock.
Several research analysts recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and set a $77.00 price target (down from $79.00) on shares of PerkinElmer in a research report on Friday. Cantor Fitzgerald reiterated a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, July 19th. Piper Jaffray Companies lifted their price target on PerkinElmer to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company started coverage on PerkinElmer in a research report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.77.
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Shares of PerkinElmer, Inc. (NYSE PKI) traded up 0.34% during mid-day trading on Friday, hitting $70.61. The stock had a trading volume of 300,596 shares. The stock has a 50 day moving average price of $67.73 and a 200-day moving average price of $64.36. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $70.61. The company has a market cap of $7.78 billion, a PE ratio of 21.29 and a beta of 0.72.
PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The firm had revenue of $547.00 million during the quarter, compared to the consensus estimate of $554.14 million. During the same period last year, the business posted $0.67 EPS. PerkinElmer’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that PerkinElmer, Inc. will post $2.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s payout ratio is currently 8.46%.
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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