CIBC World Markets Inc. Trims Position in PerkinElmer, Inc. (NYSE:PKI)

CIBC World Markets Inc. cut its position in PerkinElmer, Inc. (NYSE:PKI) by 20.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,204 shares of the medical research company’s stock after selling 3,865 shares during the period. CIBC World Markets Inc.’s holdings in PerkinElmer were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IronBridge Private Wealth LLC purchased a new position in PerkinElmer during the fourth quarter valued at $38,000. Liberty Wealth Management LLC purchased a new position in PerkinElmer during the fourth quarter valued at $40,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in PerkinElmer by 24.8% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 402 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 80 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in PerkinElmer during the fourth quarter valued at $58,000. Finally, Freedman Financial Associates Inc. purchased a new position in PerkinElmer during the fourth quarter valued at $61,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

PKI opened at $146.11 on Friday. The stock has a market capitalization of $16.38 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.40 and a beta of 1.12. The company’s fifty day moving average is $137.57. PerkinElmer, Inc. has a fifty-two week low of $93.23 and a fifty-two week high of $162.70. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 0.55.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Tuesday, May 4th. The medical research company reported $3.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.03 by $0.69. PerkinElmer had a net margin of 24.19% and a return on equity of 36.60%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.67 earnings per share. PerkinElmer’s quarterly revenue was up 100.4% compared to the same quarter last year. On average, analysts anticipate that PerkinElmer, Inc. will post 9.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 6th. Shareholders of record on Friday, July 16th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 15th. This represents a $0.28 annualized dividend and a yield of 0.19%. PerkinElmer’s dividend payout ratio (DPR) is currently 3.37%.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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