Triangle Securities Wealth Management Purchases New Position in PerkinElmer, Inc. (NYSE:PKI)

Triangle Securities Wealth Management purchased a new stake in PerkinElmer, Inc. (NYSE:PKIGet Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,385 shares of the medical research company’s stock, valued at approximately $475,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PKI. Accurate Wealth Management LLC acquired a new stake in PerkinElmer in the 4th quarter worth approximately $27,000. Private Trust Co. NA acquired a new stake in PerkinElmer in the 2nd quarter worth approximately $42,000. FourThought Financial LLC acquired a new stake in PerkinElmer in the 3rd quarter worth approximately $42,000. Alta Advisers Ltd acquired a new stake in PerkinElmer in the 3rd quarter worth approximately $60,000. Finally, Covestor Ltd lifted its holdings in PerkinElmer by 25.1% in the 1st quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock worth $63,000 after purchasing an additional 72 shares during the last quarter. 85.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PerkinElmer news, insider Tajinder S. Vohra sold 1,663 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $138.85, for a total value of $230,907.55. Following the sale, the insider now directly owns 17,205 shares in the company, valued at $2,388,914.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PKI. Credit Suisse Group restated a “neutral” rating and issued a $160.00 target price on shares of PerkinElmer in a report on Wednesday, February 15th. Barclays cut their price target on PerkinElmer from $145.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 24th. StockNews.com assumed coverage on PerkinElmer in a report on Thursday. They set a “hold” rating for the company. Robert W. Baird cut their price target on PerkinElmer from $185.00 to $182.00 and set an “outperform” rating for the company in a report on Wednesday, February 15th. Finally, Cowen upgraded PerkinElmer from a “market perform” rating to an “outperform” rating and set a $164.00 price target for the company in a report on Tuesday, December 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.30.

PerkinElmer Stock Performance

PKI opened at $122.56 on Friday. The stock has a market cap of $15.49 billion, a PE ratio of 26.76, a P/E/G ratio of 0.54 and a beta of 1.10. 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 1 year low of $113.46 and a 1 year high of $184.75. The stock’s 50 day simple moving average is $132.02 and its 200-day simple moving average is $133.18.

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

PerkinElmer Announces Dividend

The company also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 20th. PerkinElmer’s dividend payout ratio is presently 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.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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