Bessemer Group Inc. reduced its stake in PerkinElmer, Inc. (NYSE:PKI) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,278 shares of the medical research company’s stock after selling 5,727 shares during the quarter. Bessemer Group Inc.’s holdings in PerkinElmer were worth $3,140,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its holdings in PerkinElmer by 9.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,795 shares of the medical research company’s stock worth $498,000 after purchasing an additional 602 shares during the period. Sit Investment Associates Inc. raised its holdings in PerkinElmer by 3.6% in the 2nd quarter. Sit Investment Associates Inc. now owns 18,625 shares of the medical research company’s stock worth $1,364,000 after purchasing an additional 650 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in PerkinElmer by 0.9% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 79,750 shares of the medical research company’s stock worth $5,840,000 after purchasing an additional 750 shares during the period. Piedmont Investment Advisors LLC raised its holdings in PerkinElmer by 5.8% during the second quarter. Piedmont Investment Advisors LLC now owns 17,072 shares of the medical research company’s stock valued at $1,250,000 after acquiring an additional 931 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in PerkinElmer by 7.5% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 14,206 shares of the medical research company’s stock valued at $1,369,000 after acquiring an additional 988 shares during the period. 94.82% of the stock is currently owned by institutional investors.

In other PerkinElmer news, Director Patrick J. Sullivan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total transaction of $816,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $90.95, for a total value of $454,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,749 shares of company stock valued at $2,641,994. 2.10% of the stock is currently owned by company insiders.

A number of research firms have commented on PKI. Janney Montgomery Scott cut PerkinElmer from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. Morgan Stanley raised their price target on PerkinElmer from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. UBS Group began coverage on PerkinElmer in a report on Tuesday, October 9th. They set a “neutral” rating and a $100.00 price target on the stock. Deutsche Bank raised their price target on PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a report on Monday, September 10th. Finally, Barclays raised PerkinElmer from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $79.00 to $90.00 in a report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $87.84.

PKI traded down $2.26 on Friday, hitting $83.76. The company had a trading volume of 525,502 shares, compared to its average volume of 606,183. The firm has a market cap of $9.57 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.92 and a beta of 1.12. PerkinElmer, Inc. has a 12-month low of $70.15 and a 12-month high of $98.33. The company has a current ratio of 1.70, a quick ratio of 1.18 and a debt-to-equity ratio of 0.73.

PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The company had revenue of $674.30 million during the quarter, compared to analysts’ expectations of $676.72 million. PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The company’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. On average, research analysts forecast that PerkinElmer, Inc. will post 3.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.33%. PerkinElmer’s dividend payout ratio is currently 9.66%.

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PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

Further Reading: Capital gains and your 401(k) or IRA

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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