Geneva Partners LLC decreased its holdings in shares of PerkinElmer, Inc. (NYSE:PKI) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,655 shares of the medical research company’s stock after selling 2,000 shares during the quarter. Geneva Partners LLC’s holdings in PerkinElmer were worth $1,437,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PKI. Balyasny Asset Management LLC purchased a new stake in PerkinElmer during the second quarter valued at $271,000. Cornerstone Capital Management Holdings LLC. increased its position in PerkinElmer by 37.5% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 25,886 shares of the medical research company’s stock valued at $1,763,000 after acquiring an additional 7,053 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in PerkinElmer during the second quarter valued at $269,000. Nomura Holdings Inc. bought a new position in PerkinElmer during the second quarter valued at $567,000. Finally, Toronto Dominion Bank increased its position in PerkinElmer by 26.4% during the second quarter. Toronto Dominion Bank now owns 35,925 shares of the medical research company’s stock valued at $2,447,000 after acquiring an additional 7,505 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors.
PerkinElmer, Inc. (NYSE:PKI) opened at $75.46 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The company has a market cap of $8,180.91, a PE ratio of 28.58, a PEG ratio of 1.71 and a beta of 0.76. PerkinElmer, Inc. has a 1-year low of $53.97 and a 1-year high of $84.49.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 13th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s payout ratio is presently 10.61%.
A number of research analysts have weighed in on PKI shares. Robert W. Baird boosted their price objective on shares of PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, January 8th. Morgan Stanley boosted their price objective on shares of PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Jefferies Group reiterated a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. Finally, Cowen reiterated a “hold” rating and set a $84.00 price objective on shares of PerkinElmer in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.85.
In other news, insider Frank Anders Wilson sold 37,535 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $70.14, for a total value of $2,632,704.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Okun sold 2,324 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $75.44, for a total transaction of $175,322.56. Following the completion of the transaction, the insider now owns 8,876 shares in the company, valued at $669,605.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,812 shares of company stock worth $4,263,863. Company insiders own 2.20% of the company’s stock.
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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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