Prudential Financial Inc. boosted its stake in PerkinElmer Inc. (NYSE:PKI) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 151,714 shares of the company’s stock after buying an additional 14,346 shares during the period. Prudential Financial Inc. owned about 0.14% of PerkinElmer worth $7,952,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PKI. Eqis Capital Management Inc. purchased a new stake in shares of PerkinElmer during the second quarter valued at approximately $278,000. Artemis Investment Management LLP raised its stake in PerkinElmer by 61.9% in the second quarter. Artemis Investment Management LLP now owns 332,703 shares of the company’s stock worth $17,442,000 after buying an additional 127,152 shares during the period. Nisa Investment Advisors LLC raised its stake in PerkinElmer by 9.4% in the second quarter. Nisa Investment Advisors LLC now owns 101,780 shares of the company’s stock worth $5,335,000 after buying an additional 8,780 shares during the period. Capital Fund Management S.A. raised its stake in PerkinElmer by 876.0% in the second quarter. Capital Fund Management S.A. now owns 109,309 shares of the company’s stock worth $5,730,000 after buying an additional 98,109 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in PerkinElmer by 1.8% in the first quarter. Panagora Asset Management Inc. now owns 295,544 shares of the company’s stock worth $14,618,000 after buying an additional 5,313 shares during the period. Institutional investors own 90.50% of the company’s stock.
Shares of PerkinElmer Inc. (NYSE:PKI) traded down 1.29% during mid-day trading on Friday, hitting $55.70. The company had a trading volume of 1,029,640 shares. PerkinElmer Inc. has a 12-month low of $39.50 and a 12-month high of $57.28. The firm’s 50 day moving average is $54.49 and its 200-day moving average is $53.42. The firm has a market cap of $6.09 billion, a PE ratio of 26.61 and a beta of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 14th will be given a $0.07 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.50%. PerkinElmer’s dividend payout ratio is currently 13.33%.
A number of research firms have recently issued reports on PKI. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on PerkinElmer from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Jefferies Group increased their target price on PerkinElmer from $52.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Morgan Stanley set a $61.00 target price on PerkinElmer and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Barclays PLC increased their target price on PerkinElmer from $50.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.00.
In other news, insider Daniel R. Tereau sold 18,866 shares of PerkinElmer stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $52.00, for a total value of $981,032.00. Following the transaction, the insider now directly owns 21,241 shares in the company, valued at $1,104,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel S. Goldberg sold 38,095 shares of PerkinElmer stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $2,095,225.00. Following the completion of the transaction, the insider now owns 96,299 shares in the company, valued at $5,296,445. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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