PerkinElmer, Inc. (NYSE:PKI) Director Vicki L. Sato sold 8,308 shares of the business’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $54.01, for a total transaction of $448,715.08. Following the sale, the director now directly owns 38,278 shares of the company’s stock, valued at $2,067,394.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of PerkinElmer, Inc. (NYSE:PKI) traded up 0.45% during midday trading on Friday, hitting $53.97. 569,757 shares of the stock were exchanged. The stock’s 50 day moving average is $52.74 and its 200 day moving average is $53.19. The firm has a market cap of $5.94 billion, a P/E ratio of 25.41 and a beta of 0.80. PerkinElmer, Inc. has a 12-month low of $44.81 and a 12-month high of $57.28.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. PerkinElmer had a net margin of 10.52% and a return on equity of 14.26%. The company had revenue of $548 million for the quarter, compared to analyst estimates of $572.03 million. During the same quarter in the prior year, the business posted $0.60 EPS. PerkinElmer’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that PerkinElmer, Inc. will post $2.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Friday, April 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $0.28 annualized dividend and a dividend yield of 0.52%. PerkinElmer’s dividend payout ratio (DPR) is 13.15%.
Several hedge funds and other institutional investors have recently made changes to their positions in PKI. Acrospire Investment Management LLC raised its position in shares of PerkinElmer by 37.5% in the third quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock valued at $123,000 after buying an additional 600 shares during the period. Toronto Dominion Bank acquired a new position in shares of PerkinElmer during the third quarter valued at approximately $126,000. Nordea Investment Management AB raised its position in shares of PerkinElmer by 58.7% in the third quarter. Nordea Investment Management AB now owns 2,429 shares of the company’s stock valued at $136,000 after buying an additional 898 shares during the period. Federated Investors Inc. PA raised its position in shares of PerkinElmer by 158.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,997 shares of the company’s stock valued at $156,000 after buying an additional 1,837 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PerkinElmer by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,552 shares of the company’s stock valued at $199,000 after buying an additional 440 shares during the period. Institutional investors own 90.15% of the company’s stock.
PKI has been the subject of several research reports. Zacks Investment Research cut shares of PerkinElmer from a “hold” rating to a “sell” rating in a research note on Monday, October 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $55.00 price target on shares of PerkinElmer in a research report on Wednesday, January 18th. BTIG Research reaffirmed a “hold” rating on shares of PerkinElmer in a research report on Sunday, February 5th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 price target on shares of PerkinElmer in a research report on Tuesday, November 8th. Finally, Bank of America Corporation cut shares of PerkinElmer from a “neutral” rating to an “underperform” rating and set a $48.00 price target for the company. in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $54.82.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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