Duality Advisers LP Makes New Investment in PerkinElmer, Inc. (NYSE:PKI)

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Duality Advisers LP purchased a new stake in shares of PerkinElmer, Inc. (NYSE:PKI) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 18,897 shares of the medical research company’s stock, valued at approximately $1,854,000.

A number of other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in PerkinElmer during the second quarter valued at about $1,439,000. CIBC Asset Management Inc boosted its position in PerkinElmer by 529.6% during the second quarter. CIBC Asset Management Inc now owns 59,671 shares of the medical research company’s stock valued at $5,853,000 after purchasing an additional 50,194 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in PerkinElmer during the second quarter valued at about $670,000. Perella Weinberg Partners Capital Management LP bought a new stake in PerkinElmer during the second quarter valued at about $3,817,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in PerkinElmer by 8.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,774 shares of the medical research company’s stock valued at $468,000 after purchasing an additional 359 shares in the last quarter. 93.34% of the stock is currently owned by institutional investors.

In related news, insider Daniel R. Tereau sold 5,452 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $95.22, for a total transaction of $519,139.44. Also, Director Peter Barrett sold 7,552 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $100.11, for a total transaction of $756,030.72. Following the sale, the director now directly owns 29,552 shares in the company, valued at $2,958,450.72. The disclosure for this sale can be found here. Insiders sold a total of 19,703 shares of company stock worth $2,079,050 over the last ninety days. Insiders own 0.62% of the company’s stock.

PKI has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on PerkinElmer in a research report on Monday, July 13th. They set a “hold” rating on the stock. Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating and set a $105.00 price target on the stock in a research note on Thursday, May 28th. UBS Group upped their price objective on shares of PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Cfra raised shares of PerkinElmer from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their target price on shares of PerkinElmer from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $95.13.

PKI stock opened at $118.91 on Friday. The firm’s fifty day simple moving average is $102.67 and its 200-day simple moving average is $92.32. The company has a market capitalization of $13.24 billion, a P/E ratio of 45.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.30. PerkinElmer, Inc. has a 12 month low of $62.91 and a 12 month high of $121.44.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported $1.57 EPS for the quarter, beating the consensus estimate of $0.70 by $0.87. The business had revenue of $811.91 million for the quarter, compared to the consensus estimate of $703.32 million. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. As a group, sell-side analysts forecast that PerkinElmer, Inc. will post 4.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, October 15th. PerkinElmer’s dividend payout ratio (DPR) is currently 6.83%.

PerkinElmer Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

Read More: Why do companies issue stock splits?

Want to see what other hedge funds are holding PKI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PerkinElmer, Inc. (NYSE:PKI).

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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