Cfra upgraded shares of PerkinElmer (NYSE:PKI) from a hold rating to a buy rating in a report released on Wednesday, Briefing.com Automated Import reports.
A number of other research analysts also recently weighed in on PKI. Stifel Nicolaus dropped their price target on PerkinElmer from $102.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, April 2nd. JPMorgan Chase & Co. upped their price target on PerkinElmer from $80.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, May 6th. UBS Group boosted their price objective on PerkinElmer from $95.00 to $96.00 and gave the stock a neutral rating in a report on Thursday, May 7th. Needham & Company LLC assumed coverage on PerkinElmer in a report on Monday, July 13th. They set a hold rating for the company. Finally, Zacks Investment Research raised PerkinElmer from a sell rating to a hold rating and set a $105.00 price objective for the company in a report on Thursday, May 28th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. PerkinElmer presently has an average rating of Hold and an average target price of $95.13.
PKI stock opened at $118.91 on Wednesday. The stock’s 50 day simple moving average is $102.67 and its 200 day simple moving average is $92.32. PerkinElmer has a fifty-two week low of $62.91 and a fifty-two week high of $121.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.30 and a current ratio of 1.85. The company has a market cap of $13.24 billion, a P/E ratio of 45.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.37.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.87. PerkinElmer had a return on equity of 18.41% and a net margin of 9.87%. The business had revenue of $811.91 million for the quarter, compared to the consensus estimate of $703.32 million. During the same period in the prior year, the business earned $1.00 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts predict that PerkinElmer will post 4.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, October 15th. PerkinElmer’s dividend payout ratio is presently 6.83%.
In other news, insider Andrew Okun sold 6,699 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total value of $803,880.00. Following the completion of the transaction, the insider now directly owns 17,009 shares of the company’s stock, valued at $2,041,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel R. Tereau sold 5,452 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $95.22, for a total value of $519,139.44. Over the last ninety days, insiders sold 19,703 shares of company stock valued at $2,079,050. 0.62% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PKI. Ameritas Investment Company LLC bought a new position in PerkinElmer during the first quarter valued at $26,000. Ceredex Value Advisors LLC bought a new position in PerkinElmer during the first quarter valued at $30,000. Bartlett & Co. LLC bought a new position in PerkinElmer during the first quarter valued at $37,000. Pathstone Family Office LLC bought a new position in PerkinElmer during the first quarter valued at $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in PerkinElmer during the second quarter valued at $39,000. 93.34% of the stock is owned by institutional investors and hedge funds.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
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