Laffer Investments cut its position in PerkinElmer, Inc. (NYSE:PKI) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,550 shares of the medical research company’s stock after selling 1,890 shares during the quarter. Laffer Investments’ holdings in PerkinElmer were worth $1,969,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its stake in shares of PerkinElmer by 185.7% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,300 shares in the last quarter. Waldron LP acquired a new stake in PerkinElmer during the 3rd quarter valued at $200,000. Seaward Management Limited Partnership acquired a new stake in PerkinElmer during the 3rd quarter valued at $202,000. Carret Asset Management LLC acquired a new stake in PerkinElmer during the 2nd quarter valued at $210,000. Finally, Cipher Capital LP acquired a new stake in PerkinElmer during the 2nd quarter valued at $230,000. 91.37% of the stock is owned by institutional investors and hedge funds.
In other PerkinElmer news, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $73.18, for a total value of $365,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Okun sold 12,680 shares of PerkinElmer stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $72.00, for a total value of $912,960.00. Following the completion of the transaction, the insider now owns 25,121 shares in the company, valued at approximately $1,808,712. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,336 shares of company stock valued at $6,114,917. 2.20% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.
Several brokerages have issued reports on PKI. Goldman Sachs Group reaffirmed a “neutral” rating and set a $67.00 price target on shares of PerkinElmer in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and set a $72.00 price target on shares of PerkinElmer in a report on Friday, October 20th. Cowen reaffirmed a “hold” rating and set a $70.00 price target on shares of PerkinElmer in a report on Friday, September 1st. Bank of America raised PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 price target for the company in a report on Tuesday, December 19th. Finally, ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. PerkinElmer currently has a consensus rating of “Hold” and an average price target of $70.79.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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