PerkinElmer, Inc. (PKI) Position Boosted by Castleark Management LLC

Castleark Management LLC increased its position in PerkinElmer, Inc. (NYSE:PKI) by 22.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 68,915 shares of the medical research company’s stock after purchasing an additional 12,855 shares during the period. Castleark Management LLC owned about 0.06% of PerkinElmer worth $4,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Credit Suisse AG boosted its stake in PerkinElmer by 6.5% in the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock worth $6,306,000 after purchasing an additional 6,665 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in PerkinElmer by 36.3% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock worth $6,502,000 after purchasing an additional 25,404 shares during the period. Legal & General Group Plc boosted its stake in PerkinElmer by 13.0% in the 2nd quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock worth $6,815,000 after purchasing an additional 11,530 shares during the period. Neuberger Berman Group LLC boosted its stake in PerkinElmer by 59.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock worth $3,545,000 after purchasing an additional 19,464 shares during the period. Finally, Morgan Stanley boosted its stake in PerkinElmer by 10.5% in the 1st quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock worth $15,834,000 after purchasing an additional 25,976 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.

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Shares of PerkinElmer, Inc. (NYSE:PKI) traded down 0.58% on Friday, reaching $71.39. 410,175 shares of the company traded hands. The stock has a 50 day moving average of $68.78 and a 200 day moving average of $64.90. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 21.53 and a beta of 0.72. PerkinElmer, Inc. has a 52-week low of $45.35 and a 52-week high of $72.11.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $547.00 million during the quarter, compared to analysts’ expectations of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. On average, analysts expect that PerkinElmer, Inc. will post $2.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio is currently 8.46%.

A number of research firms recently commented on PKI. Morgan Stanley reaffirmed an “overweight” rating and issued a $77.00 price objective (down previously from $79.00) on shares of PerkinElmer in a research note on Friday, October 6th. Citigroup Inc. reissued a “buy” rating and set 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) reissued a “neutral” rating and set a $67.00 target price on shares of PerkinElmer in a research note on Tuesday, September 26th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, August 1st. Finally, Wells Fargo & Company assumed coverage on shares of PerkinElmer in a research note on Thursday, July 13th. They set a “market perform” rating and a $72.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. PerkinElmer currently has a consensus rating of “Hold” and a consensus target price of $67.77.

About PerkinElmer

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.

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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