Swiss National Bank Buys 158,700 Shares of PerkinElmer, Inc. (NYSE:PKI)
Swiss National Bank raised its stake in PerkinElmer, Inc. (NYSE:PKI) by 78.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,400 shares of the medical research company’s stock after buying an additional 158,700 shares during the period. Swiss National Bank owned about 0.33% of PerkinElmer worth $34,817,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC bought a new position in shares of PerkinElmer in the 1st quarter worth $25,000. Amica Retiree Medical Trust bought a new position in shares of PerkinElmer in the 2nd quarter worth $48,000. Financial Gravity Wealth Inc. bought a new position in shares of PerkinElmer in the 1st quarter worth $52,000. Coastal Capital Group Inc. bought a new position in shares of PerkinElmer in the 2nd quarter worth $58,000. Finally, Signaturefd LLC increased its holdings in shares of PerkinElmer by 171.5% in the 1st quarter. Signaturefd LLC now owns 809 shares of the medical research company’s stock worth $78,000 after buying an additional 511 shares during the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
PKI has been the topic of a number of research analyst reports. Raymond James initiated coverage on shares of PerkinElmer in a report on Wednesday, July 10th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Thursday, May 30th. Wolfe Research started coverage on shares of PerkinElmer in a report on Thursday, May 30th. They issued a “peer perform” rating on the stock. Wood & Company reaffirmed an “average” rating and issued a $49.00 price objective on shares of PerkinElmer in a research note on Friday, July 19th. Finally, UBS Group upped their price objective on shares of PerkinElmer from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and a consensus target price of $78.58.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The business had revenue of $722.50 million during the quarter, compared to analysts’ expectations of $729.10 million. During the same period last year, the company posted $0.91 EPS. PerkinElmer’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that PerkinElmer, Inc. will post 4.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. PerkinElmer’s dividend payout ratio (DPR) is 7.76%.
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.
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