PerkinElmer, Inc. (NYSE:PKI) – Investment analysts at Jefferies Group cut their FY2017 earnings estimates for PerkinElmer in a research report issued on Thursday. Jefferies Group analyst B. Couillard now expects that the medical research company will post earnings per share of $2.88 for the year, down from their previous 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.
A number of other brokerages have also recently issued reports on PKI. BidaskClub cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Morgan Stanley raised their price objective on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a research note on Friday, August 4th. Robert W. Baird raised their price objective on PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $68.64.
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PerkinElmer (NYSE:PKI) opened at $71.33 on Monday. PerkinElmer has a 12 month low of $49.72 and a 12 month high of $73.05. The stock has a market capitalization of $7,862.35, a PE ratio of 25.66, a PEG ratio of 2.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 2.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a $0.07 dividend. The ex-dividend date is Thursday, January 18th. This represents a $0.28 annualized dividend and a yield of 0.39%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 24,050 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total value of $1,700,816.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 worth $741,816,000 after buying an additional 273,975 shares during the period. Janus Henderson Group PLC purchased a new stake in PerkinElmer in the second quarter worth about $436,483,000. BlackRock Inc. lifted its holdings in PerkinElmer by 2.4% in the second quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after buying an additional 141,650 shares during the period. Pictet Asset Management Ltd. lifted its holdings in PerkinElmer by 2.1% in the second quarter. Pictet Asset Management Ltd. now owns 3,433,659 shares of the medical research company’s stock worth $216,526,000 after buying an additional 71,540 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in PerkinElmer by 9.9% in the third quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock worth $65,923,000 after buying an additional 86,395 shares during the period. Institutional investors and hedge funds own 91.38% of the company’s stock.
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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