Asset Management One Co. Ltd. Sells 1,980 Shares of PerkinElmer, Inc. (NYSE:PKI)

Posted by on Apr 30th, 2023

Asset Management One Co. Ltd. decreased its holdings in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,234 shares of the medical research company’s stock after selling 1,980 shares during the period. Asset Management One Co. Ltd.’s holdings in PerkinElmer were worth $7,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PKI. Covestor Ltd lifted its holdings in PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 72 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of PerkinElmer by 5.3% during the 1st quarter. D.A. Davidson & CO. now owns 1,582 shares of the medical research company’s stock valued at $276,000 after buying an additional 80 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in PerkinElmer by 1.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 7,334 shares of the medical research company’s stock worth $1,043,000 after buying an additional 80 shares during the period. Kovitz Investment Group Partners LLC increased its stake in PerkinElmer by 1.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,282 shares of the medical research company’s stock worth $741,000 after buying an additional 87 shares in the last quarter. Finally, Huntington National Bank raised its holdings in PerkinElmer by 9.0% during the third quarter. Huntington National Bank now owns 1,066 shares of the medical research company’s stock valued at $128,000 after acquiring an additional 88 shares during the period. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

PerkinElmer Stock Up 1.5 %

Shares of NYSE:PKI opened at $130.49 on Friday. The company has a 50-day moving average price of $128.98 and a 200 day moving average price of $133.65. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.53. PerkinElmer, Inc. has a 12 month low of $113.46 and a 12 month high of $170.00. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.55 and a beta of 1.11.

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

PerkinElmer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, July 21st will be issued a $0.07 dividend. The ex-dividend date is Thursday, July 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.21%. PerkinElmer’s dividend payout ratio (DPR) is presently 6.11%.

Insider Buying and Selling

In related news, insider Andrew Okun sold 2,435 shares of the stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $136.51, for a total value of $332,401.85. Following the sale, the insider now directly owns 4,356 shares of the company’s stock, valued at approximately $594,637.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Maxwell Krakowiak sold 322 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $130.00, for a total value of $41,860.00. Following the transaction, the insider now owns 7,202 shares of the company’s stock, valued at approximately $936,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Okun sold 2,435 shares of PerkinElmer stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $136.51, for a total transaction of $332,401.85. Following the sale, the insider now owns 4,356 shares of the company’s stock, valued at approximately $594,637.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,349 shares of company stock valued at $1,953,042. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

PKI has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of PerkinElmer in a research note on Wednesday, February 15th. Barclays reduced their price objective on shares of PerkinElmer from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. TheStreet upgraded shares of PerkinElmer from a “c+” rating to a “b” rating in a research report on Tuesday, February 14th. Robert W. Baird reduced 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. Finally, StockNews.com assumed coverage on shares of PerkinElmer in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $166.30.

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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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