PerkinElmer, Inc. (NYSE:PKI) – Analysts at Jefferies Group lowered their FY2017 earnings estimates for PerkinElmer in a report released on Thursday. Jefferies Group analyst B. Couillard now expects that the medical research company will earn $2.88 per share for the year, down from their prior forecast of $2.89. Jefferies Group currently has a “Hold” rating and a $70.00 target price on the stock. Jefferies Group also issued estimates for PerkinElmer’s Q4 2017 earnings at $0.94 EPS.
Several other brokerages have also issued reports on PKI. Robert W. Baird restated a “buy” rating and issued a $72.00 target price on shares of PerkinElmer in a research note on Friday, October 20th. Morgan Stanley lifted their price target on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, July 19th. Piper Jaffray Companies lifted their price target on PerkinElmer to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $67.00 price target on shares of PerkinElmer in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.64.
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Shares of PerkinElmer (NYSE:PKI) opened at $71.61 on Monday. The company has a market capitalization of $7,862.36, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.01 and a beta of 0.77. PerkinElmer has a fifty-two week low of $49.72 and a fifty-two week high of $73.05. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44.
Hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC grew its holdings in shares of PerkinElmer by 185.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock worth $136,000 after acquiring an additional 1,300 shares during the period. LS Investment Advisors LLC grew its holdings in shares of PerkinElmer by 2.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock worth $196,000 after acquiring an additional 60 shares during the period. Waldron LP purchased a new position in shares of PerkinElmer during the 3rd quarter worth approximately $200,000. Seaward Management Limited Partnership purchased a new position in shares of PerkinElmer during the 3rd quarter worth approximately $202,000. Finally, Carret Asset Management LLC purchased a new position in shares of PerkinElmer during the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 24,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $70.72, for a total transaction of $1,700,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Barrett sold 7,071 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $71.07, for a total value of $502,535.97. Following the transaction, the director now directly owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.
PerkinElmer Company Profile
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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