Edinburgh Partners Ltd buys $89,942,316 stake in PerkinElmer (PKI)

PerkinElmer (PKI) : Edinburgh Partners Ltd scooped up 59,648 additional shares in PerkinElmer during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 1,743,406 shares of PerkinElmer which is valued at $89,942,316.PerkinElmer makes up approximately 9.87% of Edinburgh Partners Ltd’s portfolio.

PerkinElmer opened for trading at $51.51 and hit $51.75 on the upside on Friday, eventually ending the session at $51.59, with a gain of 0.33% or 0.17 points. The heightened volatility saw the trading volume jump to 3,08,477 shares. Company has a market cap of $5,664 M.

Other Hedge Funds, Including , Fox Run Management L.l.c. reduced its stake in PKI by selling 7,000 shares or 56.45% in the most recent quarter. The Hedge Fund company now holds 5,400 shares of PKI which is valued at $278,586. PerkinElmer makes up approx 0.18% of Fox Run Management L.l.c.’s portfolio. Integrated Investment Consultants added PKI to its portfolio by purchasing 3,050 company shares during the most recent quarter which is valued at $155,184. PerkinElmer makes up approx 0.09% of Integrated Investment Consultants’s portfolio.Creative Planning reduced its stake in PKI by selling 122 shares or 10.49% in the most recent quarter. The Hedge Fund company now holds 1,041 shares of PKI which is valued at $51,842.

On the company’s financial health, PerkinElmer reported $0.86 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $0.87. The company had revenue of $608.10 million for the quarter, compared to analysts expectations of $617.47 million. During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on PerkinElmer. PerkinElmer was Downgraded by BofA/Merrill to ” Neutral” on Apr 5, 2016. Barclays Initiated PerkinElmer on Mar 1, 2016 to “Underweight”, Price Target of the shares are set at $46.Shares were Reiterated by Stifel on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 51 from a previous price target of $60 .

PerkinElmer Inc. is a provider of products services and solutions to the diagnostics research environmental industrial and laboratory services markets. The Company operates its business in two segments: Human Health and Environmental Health. The Company’s Human Health segment concentrates on developing diagnostics tools and applications to help detect diseases earlier and more accurately and to accelerate the discovery and development of new therapies. The Company’s Environmental Health segment provides products services and solutions to facilitate the creation of safer food and consumer products more secure surroundings and efficient energy resources. The Company markets its products and services in more than 150 countries.

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