Comerica Bank Raises Holdings in PerkinElmer, Inc. (NYSE:PKI)

Comerica Bank boosted its holdings in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,341 shares of the medical research company’s stock after buying an additional 1,891 shares during the quarter. Comerica Bank’s holdings in PerkinElmer were worth $2,832,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PKI. Pendal Group Ltd purchased a new position in PerkinElmer during the third quarter valued at approximately $69,329,000. Massachusetts Financial Services Co. MA increased its holdings in PerkinElmer by 10.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,624,231 shares of the medical research company’s stock valued at $657,660,000 after buying an additional 448,080 shares during the period. Renaissance Technologies LLC increased its holdings in PerkinElmer by 7,468.1% during the second quarter. Renaissance Technologies LLC now owns 401,110 shares of the medical research company’s stock valued at $57,046,000 after buying an additional 395,810 shares during the period. Assenagon Asset Management S.A. grew its holdings in PerkinElmer by 12,947.2% in the second quarter. Assenagon Asset Management S.A. now owns 278,818 shares of the medical research company’s stock worth $39,653,000 after purchasing an additional 276,681 shares during the last quarter. Finally, Robeco Schweiz AG grew its holdings in PerkinElmer by 17.9% in the second quarter. Robeco Schweiz AG now owns 1,250,126 shares of the medical research company’s stock worth $177,793,000 after purchasing an additional 189,395 shares during the last quarter. 85.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cowen raised shares of PerkinElmer from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $192.00 to $164.00 in a report on Tuesday, December 6th. Barclays raised shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $130.00 to $145.00 in a report on Monday, November 28th. TheStreet lowered shares of PerkinElmer from a “b” rating to a “c+” rating in a report on Friday, September 23rd. Citigroup raised shares of PerkinElmer from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $170.00 in a report on Monday, December 12th. Finally, StockNews.com downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $166.40.

Insiders Place Their Bets

In other PerkinElmer news, insider Tajinder S. Vohra sold 1,663 shares of the company’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $138.85, for a total value of $230,907.55. Following the completion of the transaction, the insider now owns 17,205 shares in the company, valued at $2,388,914.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

PerkinElmer Trading Up 1.2 %

NYSE PKI opened at $133.77 on Tuesday. The company has a market capitalization of $16.88 billion, a PE ratio of 27.30, a P/E/G ratio of 0.49 and a beta of 1.12. The company has a fifty day moving average of $138.24 and a 200 day moving average of $137.72. PerkinElmer, Inc. has a 1 year low of $113.46 and a 1 year high of $190.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.10 and a quick ratio of 1.84.

PerkinElmer (NYSE:PKIGet Rating) last posted its earnings results on Tuesday, November 8th. The medical research company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.03. The company had revenue of $711.80 million during the quarter, compared to the consensus estimate of $1.03 billion. PerkinElmer had a net margin of 13.60% and a return on equity of 15.58%. Research analysts forecast that PerkinElmer, Inc. will post 7.9 earnings per share for the current year.

PerkinElmer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 20th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.21%. PerkinElmer’s dividend payout ratio (DPR) is currently 5.71%.

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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