Insider Selling: PerkinElmer, Inc. (PKI) Insider Sells 24,465 Shares of Stock

PerkinElmer, Inc. (NYSE:PKI) insider Joel S. Goldberg sold 24,465 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $92.81, for a total value of $2,270,596.65. Following the transaction, the insider now directly owns 84,277 shares of the company’s stock, valued at $7,821,748.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NYSE:PKI opened at $93.11 on Friday. The stock has a market cap of $10.38 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. PerkinElmer, Inc. has a 1 year low of $70.83 and a 1 year high of $98.33. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 0.73.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, January 31st. The medical research company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. The business had revenue of $756.35 million during the quarter, compared to analysts’ expectations of $746.15 million. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. During the same period in the prior year, the firm posted $0.97 EPS. As a group, research analysts forecast that PerkinElmer, Inc. will post 4.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s payout ratio is currently 7.76%.

Several institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of PerkinElmer by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,045 shares of the medical research company’s stock valued at $946,000 after purchasing an additional 110 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of PerkinElmer by 0.3% in the 4th quarter. Advisors Asset Management Inc. now owns 39,198 shares of the medical research company’s stock valued at $3,079,000 after purchasing an additional 132 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of PerkinElmer by 0.8% in the 4th quarter. National Asset Management Inc. now owns 20,876 shares of the medical research company’s stock valued at $1,640,000 after purchasing an additional 160 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of PerkinElmer by 5.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,232 shares of the medical research company’s stock valued at $411,000 after purchasing an additional 249 shares during the last quarter. Finally, Lindbrook Capital LLC purchased a new stake in shares of PerkinElmer in the 4th quarter valued at about $25,000. 95.34% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on PKI shares. CIBC reissued an “average” rating and set a $44.50 target price on shares of PerkinElmer in a research note on Thursday, January 10th. Morgan Stanley lowered their target price on PerkinElmer from $100.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, January 3rd. UBS Group set a $92.00 target price on PerkinElmer and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Needham & Company LLC assumed coverage on PerkinElmer in a research report on Wednesday, January 2nd. They set a “hold” rating and a $79.00 price objective for the company. Finally, Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of PerkinElmer in a research report on Sunday, January 6th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.99.

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PerkinElmer Company Profile

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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