PerkinElmer, Inc. (NYSE:PKI) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,811 shares of the medical research company’s stock after selling 339 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PerkinElmer were worth $1,363,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in PerkinElmer by 14,100.0% during the first quarter. Allworth Financial LP now owns 284 shares of the medical research company’s stock worth $50,000 after buying an additional 282 shares in the last quarter. Covestor Ltd boosted its holdings in PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock worth $63,000 after buying an additional 72 shares in the last quarter. MV Capital Management Inc. raised its position in PerkinElmer by 1,085.1% during the first quarter. MV Capital Management Inc. now owns 557 shares of the medical research company’s stock worth $97,000 after acquiring an additional 510 shares during the last quarter. Ellevest Inc. raised its position in PerkinElmer by 35.3% during the first quarter. Ellevest Inc. now owns 716 shares of the medical research company’s stock worth $125,000 after acquiring an additional 187 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in PerkinElmer by 128.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 765 shares of the medical research company’s stock worth $133,000 after acquiring an additional 430 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

PerkinElmer Stock Performance

NYSE:PKI opened at $123.23 on Friday. PerkinElmer, Inc. has a 1-year low of $123.02 and a 1-year high of $203.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $143.07 and a 200-day simple moving average of $150.39. The firm has a market cap of $15.55 billion, a PE ratio of 23.08, a P/E/G ratio of 0.35 and a beta of 1.14.

PerkinElmer (NYSE:PKIGet Rating) last issued its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.01 by $0.31. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $2.83 earnings per share. PerkinElmer’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that PerkinElmer, Inc. will post 7.83 EPS for the current year.

PerkinElmer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is 5.24%.

Insider Buying and Selling

In related news, insider Daniel R. Tereau sold 5,700 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the transaction, the insider now owns 13,380 shares of the company’s stock, valued at $1,941,973.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the sale, the insider now directly owns 13,380 shares in the company, valued at $1,941,973.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Okun sold 3,173 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $165.42, for a total transaction of $524,877.66. Following the sale, the insider now owns 6,391 shares of the company’s stock, valued at $1,057,199.22. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PKI shares. Bank of America cut shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 target price for the company. in a research report on Tuesday, August 2nd. The Goldman Sachs Group cut their target price on shares of PerkinElmer from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Credit Suisse Group started coverage on shares of PerkinElmer in a research report on Wednesday, August 24th. They set a “neutral” rating and a $175.00 target price for the company. Robert W. Baird lifted their target price on shares of PerkinElmer from $198.00 to $202.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, UBS Group assumed coverage on shares of PerkinElmer in a research report on Wednesday, July 20th. They set a “buy” rating and a $160.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.50.

About PerkinElmer

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

Further Reading

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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