PerkinElmer, Inc. (PKI) Director Peter Barrett Sells 7,071 Shares of Stock
PerkinElmer, Inc. (NYSE:PKI) Director Peter Barrett sold 7,071 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $71.07, for a total value of $502,535.97. Following the sale, the director now directly owns 26,271 shares of the company’s stock, valued at $1,867,079.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
PerkinElmer, Inc. (NYSE PKI) traded up $0.34 during midday trading on Wednesday, reaching $71.61. The company had a trading volume of 671,500 shares, compared to its average volume of 633,822. PerkinElmer, Inc. has a twelve month low of $49.72 and a twelve month high of $73.05. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. The company has a market cap of $7,890.00, a PE ratio of 25.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. PerkinElmer’s payout ratio is 12.67%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in PerkinElmer by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock worth $741,816,000 after purchasing an additional 273,975 shares in the last quarter. Janus Henderson Group PLC bought a new stake in PerkinElmer during the 2nd quarter worth approximately $436,483,000. BlackRock Inc. increased its stake in PerkinElmer by 2.4% during the 2nd quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after purchasing an additional 141,650 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in PerkinElmer by 2.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 3,433,659 shares of the medical research company’s stock worth $216,526,000 after purchasing an additional 71,540 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in PerkinElmer by 1.3% during the 3rd quarter. King Luther Capital Management Corp now owns 2,562,833 shares of the medical research company’s stock worth $176,759,000 after purchasing an additional 32,248 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.
PKI has been the subject of several recent research reports. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, July 19th. Citigroup Inc. reissued a “buy” rating and set a $80.00 price objective (up from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a report on Friday, August 4th. Robert W. Baird reissued a “buy” rating and set a $72.00 price objective on shares of PerkinElmer in a report on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.64.
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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