$615.81 Million in Sales Expected for PerkinElmer, Inc. (PKI) This Quarter

Analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will post sales of $615.81 million for the current quarter, Zacks reports. Six analysts have provided estimates for PerkinElmer’s earnings, with the lowest sales estimate coming in at $614.56 million and the highest estimate coming in at $617.00 million. PerkinElmer reported sales of $514.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.8%. The company is expected to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that PerkinElmer will report full-year sales of $615.81 million for the current year, with estimates ranging from $2.73 billion to $2.75 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.89 billion per share, with estimates ranging from $2.88 billion to $2.91 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $641.63 million during the quarter, compared to analysts’ expectations of $619.14 million. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS.

PKI has been the subject of several analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $72.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. Jefferies Group reissued a “hold” rating and issued a $70.00 target price on shares of PerkinElmer in a report on Friday, October 20th. Morgan Stanley boosted their target price on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Bank of America raised PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 target price for the company in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.85.

PerkinElmer (NYSE:PKI) traded up $1.24 during trading hours on Friday, hitting $75.46. The stock had a trading volume of 560,731 shares, compared to its average volume of 766,923. The firm has a market cap of $8,320.00, a PE ratio of 53.52, a P/E/G ratio of 1.72 and a beta of 0.76. PerkinElmer has a twelve month low of $53.97 and a twelve month high of $84.49. The company has a current ratio of 1.27, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, April 12th. PerkinElmer’s dividend payout ratio is presently 19.86%.

In other PerkinElmer news, insider Frank Anders Wilson sold 37,535 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $70.14, for a total transaction of $2,632,704.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Okun sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $72.00, for a total value of $912,960.00. Following the sale, the insider now directly owns 25,121 shares of the company’s stock, valued at $1,808,712. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,812 shares of company stock valued at $4,263,863. 2.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in PerkinElmer by 53.8% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock valued at $170,000 after acquiring an additional 779 shares during the last quarter. Cutler Group LP raised its stake in PerkinElmer by 845.7% during the 4th quarter. Cutler Group LP now owns 2,237 shares of the medical research company’s stock valued at $163,000 after acquiring an additional 2,537 shares during the last quarter. Signition LP purchased a new stake in PerkinElmer during the 4th quarter valued at approximately $207,000. SSI Investment Management Inc. purchased a new stake in PerkinElmer during the 4th quarter valued at approximately $209,000. Finally, Waldron LP purchased a new stake in PerkinElmer during the 3rd quarter valued at approximately $200,000. 90.41% of the stock is owned by hedge funds and other institutional investors.

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About PerkinElmer

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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