PerkinElmer, Inc. (NYSE:PKI) Shares Purchased by MML Investors Services LLC

Posted by Defense World Staff on Mar 2nd, 2023

MML Investors Services LLC raised its stake in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 44.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,243 shares of the medical research company’s stock after buying an additional 3,448 shares during the quarter. MML Investors Services LLC’s holdings in PerkinElmer were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in PerkinElmer by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,014,808 shares of the medical research company’s stock worth $2,135,406,000 after purchasing an additional 68,732 shares in the last quarter. State Street Corp boosted its position in PerkinElmer by 0.3% during the second quarter. State Street Corp now owns 5,171,403 shares of the medical research company’s stock worth $735,477,000 after acquiring an additional 14,692 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in PerkinElmer by 10.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,624,231 shares of the medical research company’s stock worth $657,660,000 after acquiring an additional 448,080 shares during the period. Invesco Ltd. lifted its stake in shares of PerkinElmer by 1.9% during the 1st quarter. Invesco Ltd. now owns 1,180,717 shares of the medical research company’s stock worth $205,986,000 after purchasing an additional 22,532 shares during the period. Finally, Robeco Schweiz AG boosted its holdings in shares of PerkinElmer by 2.9% during the first quarter. Robeco Schweiz AG now owns 1,060,731 shares of the medical research company’s stock worth $185,055,000 after purchasing an additional 30,227 shares during the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.

PerkinElmer Price Performance

PKI opened at $123.50 on Thursday. PerkinElmer, Inc. has a twelve month low of $113.46 and a twelve month high of $184.75. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 0.52 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $135.71 and a 200 day simple moving average of $134.85.

PerkinElmer (NYSE:PKI – Get Rating) last announced its earnings results on Tuesday, February 14th. The medical research company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.04. The business had revenue of $741.20 million for the quarter, compared to analyst estimates of $1.07 billion. PerkinElmer had a return on equity of 13.94% and a net margin of 14.69%. The company’s revenue for the quarter was down 27.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 earnings per share. Equities research analysts expect that PerkinElmer, Inc. will post 5.07 EPS for the current fiscal year.

PerkinElmer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Friday, April 21st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. PerkinElmer’s dividend payout ratio (DPR) is presently 6.11%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PKI. Credit Suisse Group reiterated a “neutral” rating and set a $160.00 target price on shares of PerkinElmer in a research report on Wednesday, February 15th. Barclays cut their price target on shares of PerkinElmer from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. Robert W. Baird lowered their price objective on shares of PerkinElmer from $185.00 to $182.00 and set an “outperform” rating for the company in a research note on Wednesday, February 15th. TheStreet upgraded PerkinElmer from a “c+” rating to a “b” rating in a report on Tuesday, February 14th. Finally, StockNews.com cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PerkinElmer currently has a consensus rating of “Hold” and an average price target of $166.30.

Insider Activity at PerkinElmer

In other news, insider Tajinder S. Vohra sold 1,663 shares of the business’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $138.85, for a total value of $230,907.55. Following the completion of the sale, the insider now owns 17,205 shares of the company’s stock, valued at approximately $2,388,914.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

About PerkinElmer

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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 consists of technologies that help life sciences researchers better understand diseases and develop treatments.

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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