UBS Group began coverage on shares of PerkinElmer (NYSE:PKI) in a research report report published on Tuesday morning, 99wallstreet.com reports. The firm issued a neutral rating and a $100.00 target price on the medical research company’s stock.
PKI has been the subject of a number of other reports. Barclays upgraded PerkinElmer from an underweight rating to an equal weight rating and upped their price target for the stock from $79.00 to $90.00 in a report on Wednesday, September 5th. Cleveland Research upgraded PerkinElmer from a neutral rating to a buy rating in a report on Thursday, August 30th. Robert W. Baird reiterated a buy rating and set a $89.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Bank of America upped their price target on PerkinElmer from $83.00 to $86.00 and gave the stock a neutral rating in a report on Thursday, August 2nd. Finally, Cowen reiterated a hold rating and set a $85.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $86.21.
PKI opened at $86.96 on Tuesday. PerkinElmer has a twelve month low of $69.21 and a twelve month high of $98.33. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.17. The company has a market capitalization of $10.77 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.15 and a beta of 1.00.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Wednesday, August 1st. The medical research company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. PerkinElmer had a return on equity of 14.25% and a net margin of 5.51%. The company had revenue of $703.55 million during the quarter, compared to analyst estimates of $694.70 million. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. Equities analysts expect that PerkinElmer will post 3.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 19th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. PerkinElmer’s dividend payout ratio (DPR) is presently 9.66%.
In related news, CEO Robert F. Friel sold 2,709 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $80.00, for a total value of $216,720.00. Following the completion of the transaction, the chief executive officer now directly owns 575,366 shares in the company, valued at $46,029,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deborah A. Butters sold 3,266 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $97.70, for a total value of $319,088.20. The disclosure for this sale can be found here. Insiders sold 70,443 shares of company stock valued at $6,145,255 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of PerkinElmer by 121.6% in the third quarter. Bank of Montreal Can now owns 102,017 shares of the medical research company’s stock valued at $9,923,000 after purchasing an additional 55,980 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of PerkinElmer in the third quarter valued at $623,000. Fox Run Management L.L.C. acquired a new position in shares of PerkinElmer in the third quarter valued at $692,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of PerkinElmer in the third quarter valued at $107,000. Finally, United Services Automobile Association raised its stake in shares of PerkinElmer by 3.8% in the second quarter. United Services Automobile Association now owns 37,785 shares of the medical research company’s stock valued at $2,767,000 after purchasing an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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