PerkinElmer, Inc. (PKI) Stake Lowered by Northern Capital Management LLC

Northern Capital Management LLC trimmed its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,995 shares of the medical research company’s stock after selling 2,515 shares during the period. Northern Capital Management LLC’s holdings in PerkinElmer were worth $1,653,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Select Equity Group L.P. grew its stake in PerkinElmer by 7.2% during the second quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock valued at $631,754,000 after acquiring an additional 578,940 shares in the last quarter. Janus Henderson Group PLC grew its stake in PerkinElmer by 0.4% during the second quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock valued at $465,676,000 after acquiring an additional 22,710 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PerkinElmer by 4.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after acquiring an additional 144,602 shares in the last quarter. Partner Fund Management L.P. grew its stake in PerkinElmer by 7.4% during the second quarter. Partner Fund Management L.P. now owns 1,161,817 shares of the medical research company’s stock valued at $85,080,000 after acquiring an additional 80,310 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in PerkinElmer by 6.3% during the second quarter. Schroder Investment Management Group now owns 777,808 shares of the medical research company’s stock valued at $56,305,000 after acquiring an additional 46,316 shares in the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.

In other PerkinElmer news, Director Nicholas A. Lopardo sold 2,700 shares of PerkinElmer stock in a transaction on Friday, August 31st. The shares were sold at an average price of $92.28, for a total value of $249,156.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick J. Sullivan sold 10,000 shares of PerkinElmer stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total transaction of $816,400.00. The disclosure for this sale can be found here. Insiders sold a total of 28,949 shares of company stock valued at $2,575,140 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Several research firms recently weighed in on PKI. Janney Montgomery Scott cut shares of PerkinElmer from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Morgan Stanley raised their target price on shares of PerkinElmer from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 10th. UBS Group began coverage on shares of PerkinElmer in a research note on Tuesday, October 9th. They set a “neutral” rating and a $100.00 target price for the company. Deutsche Bank raised their target price on shares of PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Finally, Barclays raised shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $79.00 to $90.00 in a research note on Wednesday, September 5th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. PerkinElmer currently has an average rating of “Hold” and an average price target of $87.84.

PKI opened at $82.29 on Friday. PerkinElmer, Inc. has a fifty-two week low of $69.21 and a fifty-two week high of $98.33. The firm has a market cap of $8.85 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The business had revenue of $674.30 million during the quarter, compared to analysts’ expectations of $676.72 million. During the same period in the previous year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts predict that PerkinElmer, Inc. will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. PerkinElmer’s payout ratio is currently 9.66%.

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About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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