Edinburgh Partners Ltd Lowers stake in PerkinElmer (PKI)

PerkinElmer (PKI) : Edinburgh Partners Ltd reduced its stake in PerkinElmer by 16.77% during the most recent quarter end. The investment management company now holds a total of 1,022,757 shares of PerkinElmer which is valued at $56,722,103 after selling 206,047 shares in PerkinElmer , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.PerkinElmer makes up approximately 10.62% of Edinburgh Partners Ltd’s portfolio.

Other Hedge Funds, Including , Hudson Valley Investment Advisors Inc Adv boosted its stake in PKI in the latest quarter, The investment management firm added 1,194 additional shares and now holds a total of 6,734 shares of PerkinElmer which is valued at $373,468. PerkinElmer makes up approx 0.12% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in PKI by selling 288 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 27,934 shares of PKI which is valued at $1,555,924. PerkinElmer makes up approx 0.03% of Exxonmobil Investment Management Inc Tx’s portfolio. First Mercantile Trust Co sold out all of its stake in PKI during the most recent quarter. The investment firm sold 14,975 shares of PKI which is valued $834,108.Chevy Chase Trust Holdings reduced its stake in PKI by selling 2,070 shares or 2.2% in the most recent quarter. The Hedge Fund company now holds 91,815 shares of PKI which is valued at $5,180,202. PerkinElmer makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.

PerkinElmer closed down -1.64 points or -2.96% at $53.82 with 8,31,179 shares getting traded on Tuesday. Post opening the session at $54.83, the shares hit an intraday low of $53.44 and an intraday high of $54.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Many Wall Street Analysts have commented on PerkinElmer. Mizuho Downgraded PerkinElmer on Aug 5, 2016 to ” Neutral”, Price Target of the shares are set at $56.

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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