PerkinElmer, Inc. (NYSE:PKI) Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in shares of PerkinElmer, Inc. (NYSE:PKI) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 5,324 shares of the medical research company’s stock after acquiring an additional 180 shares during the quarter. HighTower Advisors LLC’s holdings in PerkinElmer were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in PerkinElmer by 3.5% in the 1st quarter. Stephens Inc. AR now owns 2,061 shares of the medical research company’s stock worth $264,000 after buying an additional 70 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in PerkinElmer by 0.4% in the 2nd quarter. Bridgewater Advisors Inc. now owns 17,536 shares of the medical research company’s stock worth $2,708,000 after buying an additional 70 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in PerkinElmer by 64.5% in the 1st quarter. Quadrant Capital Group LLC now owns 204 shares of the medical research company’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Aurora Investment Counsel grew its holdings in PerkinElmer by 1.6% in the 1st quarter. Aurora Investment Counsel now owns 5,302 shares of the medical research company’s stock worth $680,000 after buying an additional 85 shares in the last quarter. Finally, MACRO Consulting Group grew its holdings in PerkinElmer by 4.4% in the 1st quarter. MACRO Consulting Group now owns 2,182 shares of the medical research company’s stock worth $280,000 after buying an additional 92 shares in the last quarter. 92.84% of the stock is owned by institutional investors.

NYSE PKI opened at $183.94 on Tuesday. PerkinElmer, Inc. has a 1-year low of $114.75 and a 1-year high of $191.07. The company has a current ratio of 2.01, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $20.62 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10. The firm’s fifty day simple moving average is $178.93 and its 200-day simple moving average is $152.89.

PerkinElmer (NYSE:PKI) last posted its earnings results on Sunday, July 25th. The medical research company reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.43. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.12 billion. PerkinElmer had a net margin of 24.35% and a return on equity of 37.29%. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, analysts predict that PerkinElmer, Inc. will post 9.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 22nd will be issued 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 (DPR) is 3.37%.

In other PerkinElmer news, Director Sylvie Gregoire sold 5,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

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

About PerkinElmer

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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