Shares of PerkinElmer, Inc. (NYSE:PKI) have received a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $67.17.
A number of equities analysts have recently commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $69.00 price objective (up from $58.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Cantor Fitzgerald restated a “hold” rating on shares of PerkinElmer in a report on Sunday, July 16th. BidaskClub downgraded PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Piper Jaffray Companies reiterated a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a report on Friday, August 4th. Finally, Cowen and Company reiterated a “market perform” rating and set a $70.00 target price (up from $61.00) on shares of PerkinElmer in a report on Tuesday, June 20th.
In other PerkinElmer news, insider Andrew Okun sold 4,358 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the sale, the insider now owns 16,799 shares in the company, valued at approximately $1,091,935. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Credit Suisse AG grew its position in shares of PerkinElmer by 6.5% in the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock worth $6,306,000 after acquiring an additional 6,665 shares in the last quarter. Swiss National Bank grew its position in shares of PerkinElmer by 0.8% in the 1st quarter. Swiss National Bank now owns 181,200 shares of the medical research company’s stock worth $10,520,000 after acquiring an additional 1,400 shares in the last quarter. Morgan Stanley grew its position in shares of PerkinElmer by 10.5% in the 1st quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock worth $15,834,000 after acquiring an additional 25,976 shares in the last quarter. Boston Private Wealth LLC grew its position in shares of PerkinElmer by 10.0% in the 1st quarter. Boston Private Wealth LLC now owns 10,736 shares of the medical research company’s stock worth $623,000 after acquiring an additional 975 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of PerkinElmer by 0.6% in the 1st quarter. Prudential Financial Inc. now owns 151,573 shares of the medical research company’s stock worth $8,801,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.
PerkinElmer (NYSE PKI) opened at 68.56 on Wednesday. PerkinElmer has a 52-week low of $45.35 and a 52-week high of $70.16. The firm has a market capitalization of $7.56 billion, a P/E ratio of 20.68 and a beta of 0.74. The firm has a 50-day moving average price of $65.73 and a 200 day moving average price of $62.60.
PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Analysts forecast that PerkinElmer will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.
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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