Moody National Bank Trust Division Invests $208,000 in PerkinElmer, Inc. (NYSE:PKI)

Moody National Bank Trust Division bought a new position in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,461 shares of the medical research company’s stock, valued at approximately $208,000.

Several other large investors have also made changes to their positions in the business. Covestor Ltd raised its stake in PerkinElmer by 25.1% in the 1st quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 72 shares during the last quarter. D.A. Davidson & CO. raised its stake in PerkinElmer by 5.3% in the 1st quarter. D.A. Davidson & CO. now owns 1,582 shares of the medical research company’s stock valued at $276,000 after purchasing an additional 80 shares during the last quarter. TimeScale Financial Inc. raised its stake in PerkinElmer by 9.0% in the 1st quarter. TimeScale Financial Inc. now owns 993 shares of the medical research company’s stock valued at $173,000 after purchasing an additional 82 shares during the last quarter. Park Avenue Securities LLC raised its stake in PerkinElmer by 2.5% in the 1st quarter. Park Avenue Securities LLC now owns 3,557 shares of the medical research company’s stock valued at $621,000 after purchasing an additional 87 shares during the last quarter. Finally, US Bancorp DE raised its stake in PerkinElmer by 2.0% in the 1st quarter. US Bancorp DE now owns 4,572 shares of the medical research company’s stock valued at $798,000 after purchasing an additional 89 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

PerkinElmer Stock Performance

Shares of PerkinElmer stock opened at $127.75 on Wednesday. The business has a 50-day moving average of $143.50 and a 200 day moving average of $150.91. PerkinElmer, Inc. has a 12 month low of $126.41 and a 12 month high of $203.16. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.42.

PerkinElmer (NYSE:PKIGet Rating) last announced its earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.31. PerkinElmer had a return on equity of 16.68% and a net margin of 13.21%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business posted $2.83 EPS. PerkinElmer’s revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that PerkinElmer, Inc. will post 7.83 earnings per share for the current year.

PerkinElmer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is 5.24%.

Analyst Ratings Changes

PKI has been the subject of several recent research reports. Credit Suisse Group initiated coverage on PerkinElmer in a research note on Wednesday, August 24th. They issued a “neutral” rating and a $175.00 price objective for the company. Robert W. Baird increased their price objective on PerkinElmer from $198.00 to $202.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Barclays dropped their target price on PerkinElmer from $149.00 to $140.00 and set an “underweight” rating for the company in a report on Monday, September 12th. Stifel Nicolaus cut PerkinElmer from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $170.00 in a report on Thursday, August 18th. Finally, The Goldman Sachs Group dropped their target price on PerkinElmer from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.50.

Insider Activity at PerkinElmer

In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $145.14, for a total value of $827,298.00. Following the sale, the insider now owns 13,380 shares of the company’s stock, valued at approximately $1,941,973.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $145.14, for a total value of $827,298.00. Following the sale, the insider now owns 13,380 shares of the company’s stock, valued at approximately $1,941,973.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Okun sold 3,173 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $165.42, for a total value of $524,877.66. Following the completion of the sale, the insider now directly owns 6,391 shares in the company, valued at approximately $1,057,199.22. The disclosure for this sale can be found here. Insiders sold 13,898 shares of company stock worth $2,083,263 in the last three months. 0.52% of the stock is owned by company insiders.

PerkinElmer Profile

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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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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