First Citizens Bank & Trust Co. decreased its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,688 shares of the medical research company’s stock after selling 873 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in PerkinElmer were worth $2,764,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PKI. Lindbrook Capital LLC acquired a new stake in shares of PerkinElmer during the 4th quarter valued at about $25,000. Citizens Financial Group Inc RI acquired a new position in shares of PerkinElmer during the fourth quarter worth about $32,000. Penserra Capital Management LLC acquired a new position in shares of PerkinElmer during the fourth quarter worth about $35,000. Financial Gravity Companies Inc. acquired a new position in shares of PerkinElmer during the fourth quarter worth about $49,000. Finally, Karp Capital Management Corp acquired a new position in PerkinElmer during the fourth quarter worth about $47,000. 96.27% of the stock is owned by institutional investors and hedge funds.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $92.67, for a total transaction of $148,272.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Barrett sold 5,601 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $93.62, for a total transaction of $524,365.62. Following the transaction, the director now owns 27,630 shares in the company, valued at $2,586,720.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,475 shares of company stock worth $5,910,744. 1.80% of the stock is owned by corporate insiders.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. PerkinElmer had a net margin of 8.89% and a return on equity of 15.98%. The firm had revenue of $648.70 million for the quarter, compared to analyst estimates of $645.38 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts anticipate that PerkinElmer, Inc. will post 4.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Thursday, July 18th. PerkinElmer’s payout ratio is 7.76%.
PKI has been the topic of a number of research reports. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada restated a “hold” rating and issued a $41.00 price target on shares of PerkinElmer in a research report on Friday. Goldman Sachs Group upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, April 9th. Piper Jaffray Companies lifted their price objective on shares of PerkinElmer to $104.00 and gave the company an “overweight” rating in a research report on Friday, February 1st. Finally, Desjardins reiterated an “average” rating and issued a $45.00 price objective on shares of PerkinElmer in a research report on Wednesday, January 16th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.75.
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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in 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 laboratory services.
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