Icon Advisers Inc. Co. Decreases Stake in PerkinElmer, Inc. (NYSE:PKI)

Icon Advisers Inc. Co. lowered its stake in PerkinElmer, Inc. (NYSE:PKI) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,178 shares of the medical research company’s stock after selling 3,900 shares during the period. PerkinElmer accounts for 1.0% of Icon Advisers Inc. Co.’s holdings, making the stock its 29th biggest position. Icon Advisers Inc. Co. owned 0.10% of PerkinElmer worth $10,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of PerkinElmer by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,522,499 shares of the medical research company’s stock valued at $119,450,000 after purchasing an additional 124,168 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of PerkinElmer during the fourth quarter valued at about $227,000. Virtu Financial LLC bought a new stake in PerkinElmer in the first quarter worth about $328,000. Retirement Systems of Alabama raised its position in PerkinElmer by 1.0% in the first quarter. Retirement Systems of Alabama now owns 51,592 shares of the medical research company’s stock worth $4,971,000 after acquiring an additional 527 shares in the last quarter. Finally, Leavell Investment Management Inc. bought a new stake in PerkinElmer in the first quarter worth about $212,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on PKI shares. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reiterated a “hold” rating and issued a $41.00 price target on shares of PerkinElmer in a research report on Friday, May 3rd. Wood & Company restated an “average” rating and set a $49.00 price objective on shares of PerkinElmer in a report on Friday, July 19th. Wolfe Research assumed coverage on PerkinElmer in a report on Thursday, May 30th. They set a “peer perform” rating on the stock. Finally, ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $78.58.



NYSE:PKI traded up $0.70 on Friday, hitting $81.36. 3,734 shares of the company’s stock traded hands, compared to its average volume of 788,921. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. PerkinElmer, Inc. has a 1 year low of $71.83 and a 1 year high of $103.00. The firm has a 50-day moving average price of $91.52 and a 200-day moving average price of $92.81. The company has a market cap of $9.06 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). The firm had revenue of $722.50 million during the quarter, compared to the consensus estimate of $729.10 million. PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. On average, research analysts forecast that PerkinElmer, Inc. will post 4.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. PerkinElmer’s payout ratio is 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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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