Empirical Finance LLC Purchases New Shares in PerkinElmer, Inc. (NYSE:PKI)

Empirical Finance LLC purchased a new stake in PerkinElmer, Inc. (NYSE:PKI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,315 shares of the medical research company’s stock, valued at approximately $203,000.

Several other hedge funds have also added to or reduced their stakes in PKI. Amundi Pioneer Asset Management Inc. grew its stake in shares of PerkinElmer by 1.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 128,822 shares of the medical research company’s stock valued at $12,413,000 after acquiring an additional 1,695 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of PerkinElmer by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 2,353 shares of the medical research company’s stock valued at $302,000 after acquiring an additional 200 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of PerkinElmer by 3.4% in the first quarter. Victory Capital Management Inc. now owns 140,877 shares of the medical research company’s stock valued at $18,073,000 after acquiring an additional 4,624 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in PerkinElmer by 22.6% during the first quarter. Commonwealth Equity Services LLC now owns 25,194 shares of the medical research company’s stock worth $3,232,000 after buying an additional 4,640 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in PerkinElmer by 1.3% during the first quarter. Envestnet Asset Management Inc. now owns 97,977 shares of the medical research company’s stock worth $12,569,000 after buying an additional 1,215 shares in the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.

A number of brokerages have issued reports on PKI. Evercore ISI reiterated an “outperform” rating and set a $170.86 price objective (down from $174.00) on shares of PerkinElmer in a research note on Tuesday, July 27th. Robert W. Baird reiterated an “outperform” rating and set a $172.11 price objective (up from $150.00) on shares of PerkinElmer in a research note on Tuesday, July 27th. Royal Bank of Canada increased their price objective on shares of PerkinElmer from $48.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. Finally, Wolfe Research upgraded shares of PerkinElmer from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 15th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $150.09.

Shares of NYSE PKI opened at $187.56 on Friday. The company has a 50 day simple moving average of $178.34 and a 200 day simple moving average of $152.12. The firm has a market cap of $21.03 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10. PerkinElmer, Inc. has a 1 year low of $114.75 and a 1 year high of $191.07. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.01 and a quick ratio of 1.56.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Sunday, July 25th. The medical research company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.43. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.12 billion. PerkinElmer had a net margin of 24.35% and a return on equity of 37.29%. During the same quarter last year, the business earned $1.23 EPS. As a group, research analysts anticipate that PerkinElmer, Inc. will post 9.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 22nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, October 21st. PerkinElmer’s dividend payout ratio is presently 3.37%.

In other PerkinElmer news, Director Sylvie Gregoire sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $155.57, for a total transaction of $777,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

PerkinElmer Company 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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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