Ropes Wealth Advisors LLC acquired a new position in shares of PerkinElmer, Inc. (NYSE:PKI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 860 shares of the medical research company’s stock, valued at approximately $73,000.
Several other large investors have also recently made changes to their positions in PKI. Phocas Financial Corp. acquired a new stake in PerkinElmer in the 2nd quarter valued at $2,620,000. Bartlett & Co. LLC raised its position in PerkinElmer by 430.1% in the 3rd quarter. Bartlett & Co. LLC now owns 493 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 400 shares during the last quarter. Amica Retiree Medical Trust bought a new position in PerkinElmer in the 2nd quarter valued at $48,000. CSat Investment Advisory L.P. raised its position in PerkinElmer by 74.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 538 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 229 shares during the last quarter. Finally, Coastal Capital Group Inc. bought a new position in PerkinElmer in the 2nd quarter valued at $58,000. 95.77% of the stock is currently owned by institutional investors.
NYSE:PKI traded down $0.60 on Wednesday, reaching $87.32. The company’s stock had a trading volume of 600,608 shares, compared to its average volume of 719,050. PerkinElmer, Inc. has a 1-year low of $71.83 and a 1-year high of $103.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.30. The firm has a market cap of $9.70 billion, a PE ratio of 24.19, a PEG ratio of 1.58 and a beta of 1.29. The business’s 50-day moving average price is $84.86 and its two-hundred day moving average price is $88.30.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. PerkinElmer’s payout ratio is 7.76%.
A number of equities research analysts recently commented on the company. UBS Group dropped their price objective on PerkinElmer from $101.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating on shares of PerkinElmer in a report on Thursday, October 31st. BMO Capital Markets upped their price objective on PerkinElmer from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Raymond James reiterated an “average” rating and issued a $51.00 price objective on shares of PerkinElmer in a report on Tuesday, November 5th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.70.
In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $82.56, for a total value of $165,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.
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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