Tributary Capital Management LLC Sells 39,140 Shares of PerkinElmer, Inc. (PKI)

Tributary Capital Management LLC trimmed its holdings in PerkinElmer, Inc. (NYSE:PKI) by 71.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,400 shares of the medical research company’s stock after selling 39,140 shares during the quarter. Tributary Capital Management LLC’s holdings in PerkinElmer were worth $1,498,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Select Equity Group L.P. raised its position in shares of PerkinElmer by 7.2% in the second quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock worth $631,754,000 after acquiring an additional 578,940 shares during the period. Janus Henderson Group PLC raised its holdings in PerkinElmer by 0.4% in the 2nd quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock valued at $465,676,000 after acquiring an additional 22,710 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PerkinElmer by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,268,621 shares of the medical research company’s stock valued at $239,362,000 after acquiring an additional 77,337 shares during the last quarter. Partner Fund Management L.P. raised its holdings in PerkinElmer by 7.4% in the 2nd quarter. Partner Fund Management L.P. now owns 1,161,817 shares of the medical research company’s stock valued at $85,080,000 after acquiring an additional 80,310 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in PerkinElmer by 6.3% in the 2nd quarter. Schroder Investment Management Group now owns 777,808 shares of the medical research company’s stock valued at $56,305,000 after acquiring an additional 46,316 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

NYSE:PKI opened at $90.16 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.17. The company has a market cap of $10.77 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.15 and a beta of 1.00. PerkinElmer, Inc. has a fifty-two week low of $69.21 and a fifty-two week high of $98.33.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Wednesday, August 1st. The medical research company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $703.55 million during the quarter, compared to analysts’ expectations of $694.70 million. PerkinElmer had a net margin of 5.51% and a return on equity of 14.25%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. As a group, equities analysts forecast that PerkinElmer, Inc. will post 3.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 19th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. PerkinElmer’s payout ratio is currently 9.66%.

In related news, insider Joel S. Goldberg sold 34,608 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $85.00, for a total transaction of $2,941,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick J. Sullivan sold 12,672 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $86.20, for a total transaction of $1,092,326.40. The disclosure for this sale can be found here. Insiders have sold a total of 70,443 shares of company stock valued at $6,145,255 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on PKI shares. Barclays raised shares of PerkinElmer from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $79.00 to $90.00 in a research note on Wednesday, September 5th. Cleveland Research raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th. Robert W. Baird reissued a “buy” rating and issued a $89.00 price target on shares of PerkinElmer in a research note on Thursday, August 2nd. Deutsche Bank increased their price target on shares of PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Finally, Cowen reissued a “hold” rating and issued a $85.00 price target on shares of PerkinElmer in a research note on Thursday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. PerkinElmer currently has a consensus rating of “Hold” and a consensus target price of $86.21.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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