Brokerages expect that PerkinElmer, Inc. (NYSE:PKI) will announce $550.95 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PerkinElmer’s earnings. The highest sales estimate is $553.20 million and the lowest is $544.90 million. PerkinElmer posted sales of $548.05 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The firm is scheduled to report its next earnings report on Monday, November 6th.
On average, analysts expect that PerkinElmer will report full-year sales of $550.95 million for the current fiscal year, with estimates ranging from $2.21 billion to $2.24 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.43 billion per share, with estimates ranging from $2.30 billion to $2.72 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547 million during the quarter, compared to the consensus estimate of $554.14 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year.
A number of equities analysts recently commented on PKI shares. Cantor Fitzgerald cut shares of PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective (up from $73.00) on shares of PerkinElmer in a research report on Monday, July 10th. Evercore ISI reissued an “in-line” rating and issued a $68.00 price objective (up from $62.50) on shares of PerkinElmer in a research report on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of PerkinElmer in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and an average price target of $67.00.
PerkinElmer (NYSE:PKI) traded up 1.56% during trading on Friday, reaching $63.93. 497,434 shares of the company were exchanged. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $70.16. The company’s 50-day moving average price is $67.37 and its 200-day moving average price is $60.75. The stock has a market capitalization of $7.05 billion, a P/E ratio of 19.28 and a beta of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be issued a $0.07 dividend. The ex-dividend date is Thursday, October 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.44%. PerkinElmer’s dividend payout ratio is currently 8.46%.
In other news, Director Peter Barrett sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $63.22, for a total value of $632,200.00. Following the completion of the sale, the director now owns 29,200 shares in the company, valued at approximately $1,846,024. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick J. Sullivan sold 6,628 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $62.59, for a total transaction of $414,846.52. Following the completion of the sale, the director now owns 42,951 shares of the company’s stock, valued at approximately $2,688,303.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,986 shares of company stock valued at $1,330,317. Company insiders own 2.20% of the company’s stock.
Several large investors have recently bought and sold shares of PKI. Vanguard Group Inc. raised its stake in PerkinElmer by 2.6% in the second quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock valued at $741,816,000 after buying an additional 273,975 shares in the last quarter. BlackRock Inc. raised its stake in PerkinElmer by 2.4% in the second quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock valued at $404,022,000 after buying an additional 141,650 shares in the last quarter. State Street Corp raised its stake in PerkinElmer by 2.2% in the first quarter. State Street Corp now owns 3,875,455 shares of the medical research company’s stock valued at $225,011,000 after buying an additional 82,817 shares in the last quarter. Primecap Management Co. CA raised its stake in PerkinElmer by 0.7% in the first quarter. Primecap Management Co. CA now owns 3,531,955 shares of the medical research company’s stock valued at $205,065,000 after buying an additional 25,825 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in PerkinElmer by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,435,172 shares of the medical research company’s stock valued at $199,447,000 after buying an additional 99,801 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.
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PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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