Beaumont Financial Partners LLC Decreases Holdings in PerkinElmer, Inc. (NYSE:PKI)

Beaumont Financial Partners LLC decreased its position in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,702 shares of the medical research company’s stock after selling 863 shares during the quarter. Beaumont Financial Partners LLC’s holdings in PerkinElmer were worth $7,450,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PKI. Janney Montgomery Scott LLC boosted its stake in shares of PerkinElmer by 14.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,875 shares of the medical research company’s stock worth $779,000 after acquiring an additional 483 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of PerkinElmer during the 4th quarter worth approximately $3,530,000. D.A. Davidson & CO. boosted its stake in shares of PerkinElmer by 15.4% during the 4th quarter. D.A. Davidson & CO. now owns 1,502 shares of the medical research company’s stock worth $302,000 after acquiring an additional 200 shares in the last quarter. CWM LLC purchased a new stake in shares of PerkinElmer during the 4th quarter worth approximately $196,000. Finally, Xponance Inc. raised its position in shares of PerkinElmer by 38.0% during the 4th quarter. Xponance Inc. now owns 8,009 shares of the medical research company’s stock worth $1,610,000 after purchasing an additional 2,205 shares during the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.

PerkinElmer Trading Up 0.5 %

PKI traded up $0.77 during trading on Friday, hitting $153.72. The company’s stock had a trading volume of 584,777 shares, compared to its average volume of 750,568. PerkinElmer, Inc. has a twelve month low of $130.65 and a twelve month high of $203.16. The firm’s 50 day moving average price is $144.81 and its 200-day moving average price is $159.15. The stock has a market cap of $19.39 billion, a PE ratio of 28.79, a PEG ratio of 0.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.43.

PerkinElmer (NYSE:PKIGet Rating) last announced its quarterly earnings data on Monday, August 1st. The medical research company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.31. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company earned $2.83 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that PerkinElmer, Inc. will post 7.83 earnings per share for the current year.

PerkinElmer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Friday, October 21st will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, October 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.18%. PerkinElmer’s dividend payout ratio is presently 5.24%.

Insider Activity

In other news, insider Andrew Okun sold 3,173 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the completion of the sale, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Andrew Okun sold 3,173 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the completion of the sale, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel R. Tereau sold 5,700 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $145.14, for a total transaction of $827,298.00. Following the sale, the insider now directly owns 13,380 shares of the company’s stock, valued at $1,941,973.20. The disclosure for this sale can be found here. Insiders sold 13,898 shares of company stock valued at $2,083,263 in the last ninety days. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PKI. Barclays lifted their price objective on PerkinElmer from $125.00 to $149.00 and gave the stock an “underweight” rating in a research report on Tuesday. The Goldman Sachs Group cut their price objective on PerkinElmer from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Bank of America downgraded PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 price objective for the company. in a research report on Tuesday. Citigroup cut their price objective on PerkinElmer from $185.00 to $170.00 in a research report on Wednesday, May 4th. Finally, Robert W. Baird lifted their price objective on PerkinElmer from $198.00 to $202.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.13.

About PerkinElmer

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

See Also

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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