Assenagon Asset Management S.A. trimmed its position in PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 8.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,137 shares of the medical research company’s stock after selling 188 shares during the period. Assenagon Asset Management S.A.’s holdings in PerkinElmer were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in PerkinElmer by 3.9% in the 4th quarter. Capital Research Global Investors now owns 13,082,180 shares of the medical research company’s stock valued at $2,630,283,000 after buying an additional 492,434 shares in the last quarter. BlackRock Inc. grew its holdings in shares of PerkinElmer by 12.8% during the 4th quarter. BlackRock Inc. now owns 8,394,690 shares of the medical research company’s stock worth $1,687,835,000 after purchasing an additional 953,169 shares in the last quarter. State Street Corp grew its holdings in shares of PerkinElmer by 13.0% during the 4th quarter. State Street Corp now owns 5,065,241 shares of the medical research company’s stock worth $1,018,417,000 after purchasing an additional 583,525 shares in the last quarter. Pictet Asset Management SA grew its holdings in shares of PerkinElmer by 3.0% during the 4th quarter. Pictet Asset Management SA now owns 3,371,250 shares of the medical research company’s stock worth $677,824,000 after purchasing an additional 97,866 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of PerkinElmer by 13.6% during the 4th quarter. Geode Capital Management LLC now owns 2,334,412 shares of the medical research company’s stock worth $468,177,000 after purchasing an additional 278,635 shares in the last quarter. 89.27% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at PerkinElmer
In other news, insider James M. Mock sold 5,025 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $145.49, for a total transaction of $731,087.25. Following the completion of the transaction, the insider now directly owns 27,577 shares in the company, valued at $4,012,177.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.
PerkinElmer Price Performance
PerkinElmer (NYSE:PKI – Get Rating) last posted its earnings results on Tuesday, May 3rd. The medical research company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.08 by $0.33. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. PerkinElmer had a return on equity of 18.98% and a net margin of 14.54%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $3.72 earnings per share. Analysts expect that PerkinElmer, Inc. will post 7.34 EPS for the current year.
PerkinElmer Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 22nd will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $0.28 annualized dividend and a yield of 0.21%. PerkinElmer’s dividend payout ratio is presently 4.58%.
Analysts Set New Price Targets
Several research firms have recently issued reports on PKI. Citigroup reduced their target price on PerkinElmer from $185.00 to $170.00 in a report on Wednesday, May 4th. StockNews.com began coverage on PerkinElmer in a research report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group dropped their price objective on PerkinElmer from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Barclays began coverage on PerkinElmer in a research report on Tuesday, May 17th. They set an “underweight” rating and a $125.00 price objective for the company. Finally, Robert W. Baird dropped their price objective on PerkinElmer from $216.00 to $198.00 in a research report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $156.27.
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.
- Get a free copy of the StockNews.com research report on PerkinElmer (PKI)
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