California State Teachers Retirement System lowered its position in PerkinElmer, Inc. (NYSE:PKI) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,553 shares of the medical research company’s stock after selling 20,325 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of PerkinElmer worth $13,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Credit Suisse AG grew its stake in PerkinElmer by 6.5% in the first quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after purchasing an additional 6,665 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in PerkinElmer by 36.3% in the second quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock valued at $6,502,000 after purchasing an additional 25,404 shares in the last quarter. Neuberger Berman Group LLC grew its stake in PerkinElmer by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock valued at $3,545,000 after purchasing an additional 19,464 shares in the last quarter. Legal & General Group Plc grew its stake in PerkinElmer by 13.0% in the second quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock valued at $6,815,000 after purchasing an additional 11,530 shares in the last quarter. Finally, Morgan Stanley grew its stake in PerkinElmer by 10.5% in the first quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock valued at $15,834,000 after purchasing an additional 25,976 shares in the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

A number of brokerages have commented on PKI. Robert W. Baird restated a “buy” rating and issued a $72.00 target price on shares of PerkinElmer in a research note on Friday. Citigroup Inc. restated a “buy” rating and issued a $80.00 target price (up previously from $74.00) on shares of PerkinElmer in a research note on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $67.00 target price on shares of PerkinElmer in a research note on Tuesday, September 26th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, August 1st. Finally, Wells Fargo & Co started coverage on PerkinElmer in a research note on Thursday, July 13th. They set a “market perform” rating and a $72.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.07.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/10/20/california-state-teachers-retirement-system-sells-20325-shares-of-perkinelmer-inc-pki.html.

Shares of PerkinElmer, Inc. (PKI) opened at 71.32 on Friday. The company has a market cap of $7.86 billion, a P/E ratio of 21.51 and a beta of 0.72. The company’s 50-day moving average price is $69.25 and its 200 day moving average price is $65.21. PerkinElmer, Inc. has a 52 week low of $45.35 and a 52 week high of $72.11.

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. The business had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. PerkinElmer’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, equities analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current fiscal 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 given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio is currently 8.46%.

PerkinElmer 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.

Want to see what other hedge funds are holding PKI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PerkinElmer, Inc. (NYSE:PKI).

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

Receive News & Stock Ratings for PerkinElmer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer Inc. and related stocks with our FREE daily email newsletter.