Allianz Asset Management GmbH Cuts Stock Holdings in PerkinElmer, Inc. (NYSE:PKI)

Allianz Asset Management GmbH cut its stake in PerkinElmer, Inc. (NYSE:PKIGet Rating) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 560,869 shares of the medical research company’s stock after selling 35,408 shares during the period. Allianz Asset Management GmbH owned approximately 0.44% of PerkinElmer worth $112,749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PKI. Concord Wealth Partners boosted its holdings in shares of PerkinElmer by 463.6% in the 4th quarter. Concord Wealth Partners now owns 124 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 102 shares during the last quarter. UMB Bank N A MO bought a new stake in shares of PerkinElmer during the 4th quarter valued at about $29,000. Whittier Trust Co. boosted its stake in PerkinElmer by 269.4% during the 4th quarter. Whittier Trust Co. now owns 181 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 132 shares during the period. First Mercantile Trust Co. acquired a new position in PerkinElmer during the 3rd quarter valued at about $53,000. Finally, Covestor Ltd acquired a new stake in shares of PerkinElmer in the 4th quarter worth approximately $58,000. 89.27% of the stock is owned by institutional investors.

Shares of NYSE:PKI opened at $142.49 on Thursday. PerkinElmer, Inc. has a 1-year low of $137.37 and a 1-year high of $203.16. The stock has a market cap of $17.98 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 0.43 and a beta of 1.16. The stock’s fifty day simple moving average is $162.48 and its two-hundred day simple moving average is $174.83. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68.

PerkinElmer (NYSE:PKIGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The medical research company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.33. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. PerkinElmer had a return on equity of 18.98% and a net margin of 14.54%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $3.72 EPS. On average, sell-side analysts forecast that PerkinElmer, Inc. will post 7.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 22nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $0.28 annualized dividend and a yield of 0.20%. PerkinElmer’s payout ratio is 4.58%.

A number of equities research analysts have recently issued reports on PKI shares. Citigroup cut their price target on shares of PerkinElmer from $185.00 to $170.00 in a report on Wednesday, May 4th. Robert W. Baird reduced their price target on shares of PerkinElmer from $216.00 to $198.00 in a report on Wednesday, May 4th. StockNews.com began coverage on shares of PerkinElmer in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Barclays initiated coverage on shares of PerkinElmer in a research note on Tuesday. They issued an “underweight” rating and a $125.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, PerkinElmer has an average rating of “Buy” and a consensus price target of $159.84.

In other news, insider Daniel R. Tereau sold 6,696 shares of the company’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $165.84, for a total transaction of $1,110,464.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

About PerkinElmer (Get Rating)

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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