Fmr LLC Raises Position in PerkinElmer, Inc. (NYSE:PKI)

FMR LLC grew its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,233,993 shares of the medical research company’s stock after purchasing an additional 10,020 shares during the quarter. FMR LLC owned approximately 1.11% of PerkinElmer worth $118,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PKI. Lindbrook Capital LLC purchased a new stake in shares of PerkinElmer during the fourth quarter valued at $25,000. Quadrant Capital Group LLC bought a new position in PerkinElmer in the first quarter worth about $25,000. Citizens Financial Group Inc RI bought a new position in PerkinElmer in the fourth quarter worth about $32,000. Financial Gravity Wealth Inc. bought a new position in PerkinElmer in the first quarter worth about $52,000. Finally, Captrust Financial Advisors raised its holdings in PerkinElmer by 163.9% in the fourth quarter. Captrust Financial Advisors now owns 673 shares of the medical research company’s stock worth $53,000 after purchasing an additional 418 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Raymond James boosted their target price on shares of S&P Global from $226.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Royal Bank of Canada set a $60.00 price target on Masonite International and gave the stock a “buy” rating in a research note on Friday, May 3rd. Goldman Sachs Group lowered TerraForm Power from a “neutral” rating to a “sell” rating and set a $12.00 price target on the stock. in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research note on Thursday, May 30th. Finally, Wolfe Research initiated coverage on Waters in a research note on Thursday, May 30th. They set an “underperform” rating on the stock. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $81.32.

NYSE PKI traded up $0.23 during mid-day trading on Thursday, hitting $95.33. The stock had a trading volume of 474,900 shares, compared to its average volume of 723,333. PerkinElmer, Inc. has a twelve month low of $71.83 and a twelve month high of $103.00. The company has a market capitalization of $10.57 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The stock’s 50 day moving average is $93.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.17.

PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $648.70 million during the quarter, compared to the consensus estimate of $645.38 million. PerkinElmer had a return on equity of 15.98% and a net margin of 8.89%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, sell-side analysts anticipate that PerkinElmer, Inc. will post 4.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Thursday, July 18th. PerkinElmer’s dividend payout ratio is presently 7.76%.

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.

Featured Story: What does cost of debt say about a company’s financial health?

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's FREE daily email newsletter.