Assenagon Asset Management S.A. disclosed in its most recent Form 13F filing with the Securities and Exchange Commission that during the third quarter, it reduced its holdings in PerkinElmer, Inc. (NYSE: PKI) by 94.4%. The filing was connected to the company’s most recent quarterly financial results. This information was provided about the previous disclosure that was made by the company (SEC). Following the completion of transactions in which 263,078 shares of stock in the medical research company were sold throughout the period, the institutional investor owned 15,740 shares. The most recent disclosure that Assenagon Asset Management S.A. made with the SEC indicated that the value of the company’s shares in PerkinElmer was $1,894,000. The company provided this information.
In the most recent few months, various institutional investors have engaged in transactions involving buying and selling company shares. Various companies carried out these transactions. During the second quarter, Capital Asset Advisory Services LLC made a 4.1% purchase of additional PerkinElmer shares, bringing the total number of the company’s holdings to 98.4%. Capital Asset Advisory Services LLC has increased the number of shares it owns in the medical research company by purchasing 63 since the beginning of the most recent fiscal quarter. This brings the total number of shares it owns in the company to 1,588, and the value of each share is now $226,000. D.A. Davidson & Co. increased the proportion of PerkinElmer stock owned by 4.1% during the second quarter. After making an additional purchase of 65 shares during the most recent quarter, D.A. Davidson & CO. is now the proud owner of 1,647 shares in the medical research company. As determined by the market, the current value of these shares is $234,000 (as of the last reporting date). During the first quarter, Covestor Ltd. increased the amount of PerkinElmer stock owned by 25.1%, bringing its total ownership to 100%. Covestor Ltd. now has 359 shares of the company’s stock, giving the company a market valuation of $63,000. This comes after the company made an additional purchase of 72 shares during the most recent quarter. During the second quarter, Occidental Asset Management LLC saw a one percent rise in the proportion of its PerkinElmer holdings. Occidental Asset Management LLC now has 8,114 shares of the medical research company’s stock, which are currently valued at $1,154,000 following the acquisition of an additional 77 shares during the most recent quarter. And finally, during the second quarter, Byrne Asset Management LLC increased the amount of PerkinElmer stock that it held by one percent to a total value of Byrne Asset Management LLC now has a total of 8,222 shares of the stock held by the medical research company. These shares are worth a combined total of $1,169,000, and Byrne Asset Management LLC purchased an additional 78 of these shares during the most recent quarter. Institutional investors and hedge funds collectively own 85.22 percent of the total number of shares in the company, making up the majority of the shareholders.
On Tuesday, December 20, a business insider named Tajinder S. Vohra sold 1,663 shares of company stock. This development is relevant to the discussion because it pertains to the topic. For $138.85 per share, a total of $230,907.55’s worth of the stock was traded, resulting in cash accumulation. The average price paid per share was $138.85. The corporate insider now directly owns 17,205 shares of the company, which have an approximate value of $2,388,914.25, as a direct result of the transaction. Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (SEC) website. This file can be found on the website. The company’s insiders hold ownership of 0.52% of the total number of shares outstanding.
On Friday, the price of a single share of PKI stock was set at $132.16 when trading began. All the financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, equal 0.55. Both the current and quick ratios are at 1.84, with the current ratio coming in at 2.10. The company’s market valuation of $16.68 billion is based on several metrics, including its price-to-earnings (P.E.) ratio of 26.97, its price-to-growth (PEG) ratio of 0.49, and its beta of 1.12. The stock’s moving average price over the previous 50 days is $138.09; over the previous 200 days, that figure is $137.91. The all-time high for PerkinElmer, Inc. during the past year is $190.56, and the all-time low for the company during that same period is $113.46.
The most recent quarterly financial results for PerkinElmer (NYSE: PKI) were made available to the general public on November 8, a Tuesday. The medical research company announced earnings per share of $1.51 for the quarter, which was $0.03 higher than the estimate of market experts, who had predicted earnings per share of $1.48 for the quarter. In addition, PerkinElmer managed to generate a return on equity of 15.58 percent while maintaining a net margin of 13.60 percent. However, the company was only able to bring in revenue of 711.80 million dollars during the quarter, even though analysts predicted the company would bring in 1.03 billion dollars during the same period. As a result, sell-side analysts forecast that PerkinElmer, Inc. will generate 7.9 cents per share in this fiscal year.
In addition, the company disclosed that it would be implementing a quarterly dividend, which is scheduled to be paid out on February 10. On Friday, January 20, shareholders who still own their shares as of the previous business day will be eligible to receive a $0.07 dividend payment per share. This dividend has a date associated with it that is referred to as the “ex-dividend date,” which is coming up on Thursday, January 19. This results in a yield of 0.21% per quarter and a dividend payout of $0.28 per year. At this time, 5.71 percent of profits from PerkinElmer are distributed to shareholders as dividends.
In recent years, numerous analysts have concentrated their research on PKI as the topic of primary interest. In a research report published on Tuesday, December 6, Cowen lowered their target price for PerkinElmer from $192.00 to $164.00. Despite this, they raised their rating for the stock from “market perform” to “outperform” in the same breath. Following the publication of a research report on Tuesday, December 6, Cowen reclassified shares of PerkinElmer from a “market perform” rating to an “outperform” rating and assigned a target price of $164.00 to the company’s stock. The Street lowered its recommendation on PerkinElmer shares and gave them a rating of “c-” in a research note published on Friday, September 23. Previously, they had given the stock a “B” rating. In a research note published on November 28, Barclays increased their price target for the company from $130.00 to $145.00 and changed their rating on PerkinElmer from “underweight” to “equal weight.” Both of these changes were made to the company’s stock. In a study released on November 14, Credit Suisse Group lowered its “neutral” rating and price objective on PerkinElmer, moving it from $175.00 to $160.00, respectively. Five analysts think that investors should buy the stock, while six think that investors should keep their existing holdings. Bloomberg reports that the current recommendation for the stock is “Hold,” and market watchers believe that the stock price will settle at an average of $166.40 in the not-too-distant future.