Rice Partnership LLC Trims Stock Position in PerkinElmer, Inc. (NYSE:PKI)

Rice Partnership LLC cut its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 26.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,800 shares of the medical research company’s stock after selling 5,200 shares during the quarter. Rice Partnership LLC’s holdings in PerkinElmer were worth $1,426,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Crawford Investment Counsel Inc. increased its holdings in PerkinElmer by 1.1% during the first quarter. Crawford Investment Counsel Inc. now owns 9,860 shares of the medical research company’s stock valued at $950,000 after buying an additional 110 shares during the period. Mason Street Advisors LLC increased its holdings in PerkinElmer by 0.8% during the first quarter. Mason Street Advisors LLC now owns 15,807 shares of the medical research company’s stock valued at $1,523,000 after buying an additional 124 shares during the period. Retirement Systems of Alabama increased its holdings in PerkinElmer by 0.3% during the second quarter. Retirement Systems of Alabama now owns 51,726 shares of the medical research company’s stock valued at $4,983,000 after buying an additional 134 shares during the period. First Citizens Bank & Trust Co. increased its holdings in PerkinElmer by 0.6% during the second quarter. First Citizens Bank & Trust Co. now owns 28,861 shares of the medical research company’s stock valued at $2,780,000 after buying an additional 173 shares during the period. Finally, Palmer Knight Co increased its holdings in PerkinElmer by 0.3% during the second quarter. Palmer Knight Co now owns 58,521 shares of the medical research company’s stock valued at $5,638,000 after buying an additional 179 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PKI traded down $2.67 on Monday, hitting $81.93. 32,985 shares of the company were exchanged, compared to its average volume of 699,038. PerkinElmer, Inc. has a 1-year low of $71.83 and a 1-year high of $103.00. The stock has a 50 day moving average price of $94.67. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.17. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.50 and a beta of 1.25.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Monday, July 29th. The medical research company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a return on equity of 16.07% and a net margin of 9.01%. The company had revenue of $722.50 million for the quarter, compared to analyst estimates of $729.10 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that PerkinElmer, Inc. will post 4.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.76%.

Several equities analysts recently issued reports on PKI shares. Royal Bank of Canada reissued a “hold” rating and set a $41.00 price objective on shares of PerkinElmer in a report on Friday, May 3rd. ValuEngine downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Raymond James started coverage on shares of PerkinElmer in a research note on Wednesday, July 10th. They issued an “outperform” rating for the company. Goldman Sachs Group upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $78.58.

PerkinElmer Profile

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.

Further Reading: What is net income?

Want to see what other hedge funds are holding PKI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PerkinElmer, Inc. (NYSE:PKI).

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.