State Board of Administration of Florida Retirement System Has $18.85 Million Stock Holdings in PerkinElmer, Inc. (NYSE:PKI)

Posted by Defense World Staff on May 8th, 2023

State Board of Administration of Florida Retirement System lowered its position in shares of PerkinElmer, Inc. (NYSE:PKI – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,440 shares of the medical research company’s stock after selling 1,420 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.11% of PerkinElmer worth $18,851,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Creative Planning grew its position in shares of PerkinElmer by 5.3% in the 3rd quarter. Creative Planning now owns 11,479 shares of the medical research company’s stock valued at $1,381,000 after purchasing an additional 581 shares during the period. ExodusPoint Capital Management LP acquired a new position in PerkinElmer in the 3rd quarter worth $318,000. Boston Trust Walden Corp increased its holdings in PerkinElmer by 1.7% during the 4th quarter. Boston Trust Walden Corp now owns 252,137 shares of the medical research company’s stock worth $35,355,000 after purchasing an additional 4,306 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of PerkinElmer by 10.4% in the 4th quarter. Kestra Advisory Services LLC now owns 2,109 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 199 shares during the period. Finally, Keybank National Association OH bought a new stake in shares of PerkinElmer in the fourth quarter valued at about $220,000. Institutional investors own 85.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PKI shares. StockNews.com assumed coverage on PerkinElmer in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays lowered 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 decreased their price objective on PerkinElmer from $185.00 to $182.00 and set an “outperform” rating for the company in a report on Wednesday, February 15th. TheStreet upgraded PerkinElmer from a “c+” rating to a “b” rating in a report on Tuesday, February 14th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $160.00 price target on shares of PerkinElmer in a research note on Wednesday, February 15th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $166.30.

Insider Transactions at PerkinElmer

In other PerkinElmer news, insider Daniel R. Tereau sold 10,741 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $123.72, for a total value of $1,328,876.52. Following the transaction, the insider now directly owns 11,611 shares of the company’s stock, valued at approximately $1,436,512.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other PerkinElmer news, insider Andrew Okun sold 2,435 shares of the business’s 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 completion of the sale, the insider now owns 4,356 shares of the company’s stock, valued at approximately $594,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 10,741 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $123.72, for a total transaction of $1,328,876.52. Following the transaction, the insider now owns 11,611 shares in the company, valued at approximately $1,436,512.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,349 shares of company stock worth $1,953,042. Company insiders own 0.52% of the company’s stock.

PerkinElmer Stock Down 1.0 %

PKI stock opened at $129.87 on Monday. PerkinElmer, Inc. has a 1-year low of $113.46 and a 1-year high of $170.00. The business’s 50 day simple moving average is $129.11 and its 200 day simple moving average is $133.94. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $16.42 billion, a PE ratio of 28.36, a PEG ratio of 0.55 and a beta of 1.10.

PerkinElmer (NYSE:PKI – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The medical research company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.04. PerkinElmer had a net margin of 14.69% and a return on equity of 13.94%. The company had revenue of $741.20 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $2.56 earnings per share. The company’s revenue was down 27.9% on a year-over-year basis. As a group, research analysts anticipate that PerkinElmer, Inc. will post 5.06 EPS 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 given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, July 20th. PerkinElmer’s payout ratio is 6.11%.

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.