Chicago Equity Partners LLC lifted its holdings in PerkinElmer, Inc. (NYSE:PKI) by 57.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,830 shares of the medical research company’s stock after purchasing an additional 7,930 shares during the period. Chicago Equity Partners LLC’s holdings in PerkinElmer were worth $1,596,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PKI. Cutler Group LP grew its holdings in shares of PerkinElmer by 845.7% in the fourth quarter. Cutler Group LP now owns 2,237 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 2,537 shares in the last quarter. Waldron LP acquired a new position in shares of PerkinElmer in the third quarter valued at approximately $200,000. Seaward Management Limited Partnership acquired a new position in shares of PerkinElmer in the third quarter valued at approximately $202,000. Howe & Rusling Inc. acquired a new position in shares of PerkinElmer in the fourth quarter valued at approximately $234,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of PerkinElmer in the second quarter valued at approximately $269,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.
In other news, Director Alexis P. Michas sold 5,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $73.18, for a total value of $365,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Anders Wilson sold 37,535 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $70.14, for a total transaction of $2,632,704.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,559 shares of company stock valued at $4,591,077. Company insiders own 2.20% of the company’s stock.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, January 25th. The medical research company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. PerkinElmer had a net margin of 12.97% and a return on equity of 13.30%. The company had revenue of $641.63 million during the quarter, compared to analysts’ expectations of $619.14 million. During the same quarter in the previous year, the business posted $0.83 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. equities analysts forecast that PerkinElmer, Inc. will post 3.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 13th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s payout ratio is 19.86%.
A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of PerkinElmer from $69.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Cowen reiterated a “hold” rating and set a $84.00 price target on shares of PerkinElmer in a report on Friday, January 26th. Robert W. Baird reiterated a “buy” rating and set a $88.00 price target on shares of PerkinElmer in a report on Friday, January 26th. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, January 8th. Finally, Evercore ISI assumed coverage on shares of PerkinElmer in a report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price target for the company. One equities research analyst has 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 an average price target of $76.85.
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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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