Edinburgh Partners Ltd Lowers stake in PerkinElmer (PKI)

PerkinElmer (PKI) : Edinburgh Partners Ltd reduced its stake in PerkinElmer by 29.52% during the most recent quarter end. The investment management company now holds a total of 1,228,804 shares of PerkinElmer which is valued at $68,505,823 after selling 514,602 shares in PerkinElmer , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.PerkinElmer makes up approximately 9.63% of Edinburgh Partners Ltd’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in PKI by selling 280 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 55,585 shares of PKI which is valued at $3,102,199. PerkinElmer makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.Louisiana State Employees Retirement System reduced its stake in PKI by selling 100 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 7,200 shares of PKI which is valued at $401,832. PerkinElmer makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio. Eqis Capital Management added PKI to its portfolio by purchasing 5,298 company shares during the most recent quarter which is valued at $292,609. PerkinElmer makes up approx 0.02% of Eqis Capital Management’s portfolio.

PerkinElmer closed down -0.03 points or -0.05% at $55.72 with 4,87,387 shares getting traded on Thursday. Post opening the session at $55.85, the shares hit an intraday low of $55.49 and an intraday high of $55.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, PerkinElmer reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.66. The company had revenue of $573.00 million for the quarter, compared to analysts expectations of $575.66 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Investors should note that on Jul 27, 2016, PerkinElmer announced a cash dividend of $0.0700. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Nov 10, 2016.

Many Wall Street Analysts have commented on PerkinElmer. Company shares were Reiterated by Stifel on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $51 .Company shares were Reiterated by Mizuho on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $52 .

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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