Leavell Investment Management Inc. Invests $231,000 in PerkinElmer, Inc. (NYSE:PKI)

Posted by Defense World Staff on Mar 25th, 2023

Leavell Investment Management Inc. bought a new position in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,644 shares of the medical research company’s stock, valued at approximately $231,000.

A number of other institutional investors have also made changes to their positions in the company. Allworth Financial LP lifted its position in shares of PerkinElmer by 10.0% during the fourth quarter. Allworth Financial LP now owns 1,154 shares of the medical research company’s stock worth $162,000 after purchasing an additional 105 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of PerkinElmer during the fourth quarter worth $220,000. Assenagon Asset Management S.A. lifted its position in shares of PerkinElmer by 62.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 25,502 shares of the medical research company’s stock worth $3,576,000 after purchasing an additional 9,762 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of PerkinElmer by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 17,667 shares of the medical research company’s stock worth $2,477,000 after purchasing an additional 165 shares in the last quarter. Finally, Triangle Securities Wealth Management acquired a new stake in PerkinElmer in the fourth quarter valued at $475,000. 85.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PKI has been the topic of several recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $160.00 price target on shares of PerkinElmer in a report on Wednesday, February 15th. Robert W. Baird cut their price target on shares of PerkinElmer from $185.00 to $182.00 and set an “outperform” rating on the stock in a 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 report on Tuesday, January 24th. StockNews.com initiated coverage on shares of PerkinElmer in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, TheStreet raised shares of PerkinElmer from a “c+” rating to a “b” rating in a report on Tuesday, February 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $166.30.

PerkinElmer Stock Up 2.0 %

Shares of NYSE:PKI opened at $127.58 on Friday. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. PerkinElmer, Inc. has a 1-year low of $113.46 and a 1-year high of $181.65. The company’s fifty day moving average is $131.18 and its two-hundred day moving average is $132.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.87 and a current ratio of 2.13.

PerkinElmer (NYSE:PKI – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The medical research company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.66 by $0.04. The business had revenue of $741.20 million during the quarter, compared to analyst estimates of $1.07 billion. PerkinElmer had a net margin of 14.69% and a return on equity of 13.94%. The company’s quarterly revenue was down 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.56 earnings per share. Equities analysts anticipate that PerkinElmer, Inc. will post 5.06 EPS for the current year.

PerkinElmer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 21st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, April 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. PerkinElmer’s dividend payout ratio is currently 6.11%.

Insider Transactions at PerkinElmer

In other news, insider Daniel R. Tereau sold 10,741 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $123.72, for a total transaction of $1,328,876.52. Following the completion of the transaction, the insider now owns 11,611 shares in the company, valued at $1,436,512.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

PerkinElmer Company Profile

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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.