Ameriprise Financial Inc. lowered its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 869,395 shares of the medical research company’s stock after selling 9,904 shares during the quarter. Ameriprise Financial Inc. owned 0.79% of PerkinElmer worth $59,242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Credit Suisse AG grew its holdings in PerkinElmer by 6.5% during the first quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after purchasing an additional 6,665 shares during the period. Swiss National Bank boosted its holdings in shares of PerkinElmer by 0.8% in the first quarter. Swiss National Bank now owns 181,200 shares of the medical research company’s stock valued at $10,520,000 after buying an additional 1,400 shares during the period. Morgan Stanley boosted its holdings in shares of PerkinElmer by 10.5% in the first quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock valued at $15,834,000 after buying an additional 25,976 shares during the period. Boston Private Wealth LLC boosted its holdings in shares of PerkinElmer by 10.0% in the first quarter. Boston Private Wealth LLC now owns 10,736 shares of the medical research company’s stock valued at $623,000 after buying an additional 975 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of PerkinElmer by 0.6% in the first quarter. Prudential Financial Inc. now owns 151,573 shares of the medical research company’s stock valued at $8,801,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 91.47% of the company’s stock.
Shares of PerkinElmer, Inc. (NYSE:PKI) opened at 69.06 on Wednesday. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.16. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 20.83 and a beta of 0.74. The stock has a 50 day moving average of $66.08 and a 200-day moving average of $63.21.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The business had revenue of $547.00 million during the quarter, compared to the consensus estimate of $554.14 million. During the same quarter last year, the firm posted $0.67 EPS. PerkinElmer’s revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that PerkinElmer, Inc. will post $2.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s payout ratio is currently 8.46%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, August 1st. Citigroup Inc. upped their price target on shares of PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 7th. Wells Fargo & Company assumed coverage on shares of PerkinElmer in a report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price target for the company. Cowen and Company reiterated a “market perform” rating and issued a $70.00 price target (up previously from $61.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Finally, BidaskClub cut shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.00.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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