PerkinElmer, Inc. (NYSE:PKI) Shares Sold by BlackRock Inc.

BlackRock Inc. lessened its position in shares of PerkinElmer, Inc. (NYSE:PKI) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,441,521 shares of the medical research company’s stock after selling 43,821 shares during the period. BlackRock Inc. owned approximately 0.07% of PerkinElmer worth $1,289,541,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. raised its stake in shares of PerkinElmer by 3,675.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 151 shares of the medical research company’s stock worth $26,000 after buying an additional 147 shares during the last quarter. Private Capital Group LLC raised its stake in shares of PerkinElmer by 83.1% during the 3rd quarter. Private Capital Group LLC now owns 227 shares of the medical research company’s stock worth $39,000 after buying an additional 103 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of PerkinElmer during the 3rd quarter worth $52,000. Arkadios Wealth Advisors raised its stake in shares of PerkinElmer by 426.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 316 shares of the medical research company’s stock worth $54,000 after buying an additional 256 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of PerkinElmer by 66.7% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 335 shares of the medical research company’s stock worth $51,000 after buying an additional 134 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

PKI opened at $178.47 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.97 and a quick ratio of 1.40. The stock has a market capitalization of $22.52 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The business has a 50-day moving average of $185.47 and a two-hundred day moving average of $178.45. PerkinElmer, Inc. has a 12 month low of $119.95 and a 12 month high of $203.16.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Tuesday, November 2nd. The medical research company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.70 by $0.61. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1 billion. PerkinElmer had a return on equity of 30.57% and a net margin of 22.41%. During the same quarter in the previous year, the business earned $2.09 EPS. Equities research analysts anticipate that PerkinElmer, Inc. will post 10.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 11th. Shareholders of record on Friday, January 21st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.16%. The ex-dividend date is Thursday, January 20th. PerkinElmer’s dividend payout ratio (DPR) is 2.79%.

In other PerkinElmer news, insider Daniel R. Tereau sold 3,546 shares of PerkinElmer stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $189.55, for a total value of $672,144.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by insiders.

Several research analysts have recently issued reports on PKI shares. Royal Bank of Canada lifted their price target on PerkinElmer from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 17th. Robert W. Baird boosted their target price on shares of PerkinElmer from $183.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, November 3rd. They noted that the move was a valuation call. The Goldman Sachs Group began coverage on shares of PerkinElmer in a research note on Thursday, December 16th. They issued a “neutral” rating and a $200.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of PerkinElmer from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, December 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PerkinElmer has a consensus rating of “Buy” and a consensus target price of $164.48.

PerkinElmer Profile

PerkinElmer, Inc engages in the provision of products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment comprises of technologies that help life sciences researchers better understand diseases and develop treatments.

Further Reading: How do CD ladders protect against rising interest rates?

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.