Several other equities research analysts also recently weighed in on the company. UBS Group initiated coverage on PerkinElmer in a research report on Tuesday, October 9th. They issued a neutral rating and a $100.00 target price for the company. Morgan Stanley decreased their target price on PerkinElmer from $100.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, January 3rd. Needham & Company LLC initiated coverage on PerkinElmer in a research report on Wednesday, January 2nd. They issued a hold rating and a $79.00 target price for the company. Janney Montgomery Scott downgraded PerkinElmer from a buy rating to a neutral rating in a research report on Friday, November 2nd. Finally, Cowen reaffirmed a hold rating and issued a $85.00 target price on shares of PerkinElmer in a research report on Sunday, January 6th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $82.90.
PKI stock opened at $83.51 on Thursday. PerkinElmer has a 12-month low of $70.74 and a 12-month high of $98.33. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.73. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.64 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.
In related news, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Nicholas A. Lopardo sold 2,000 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $82.12, for a total value of $164,240.00. Following the completion of the transaction, the director now owns 1,661 shares in the company, valued at approximately $136,401.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $1,609,550. Insiders own 2.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in PerkinElmer by 4.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after buying an additional 144,602 shares in the last quarter. Raymond James & Associates raised its stake in PerkinElmer by 93.5% during the second quarter. Raymond James & Associates now owns 6,065 shares of the medical research company’s stock valued at $444,000 after buying an additional 2,930 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in PerkinElmer during the third quarter valued at approximately $621,000. Artemis Investment Management LLP raised its stake in PerkinElmer by 41.3% during the third quarter. Artemis Investment Management LLP now owns 352,276 shares of the medical research company’s stock valued at $34,267,000 after buying an additional 102,889 shares in the last quarter. Finally, Standard Life Aberdeen plc raised its stake in PerkinElmer by 17.0% during the third quarter. Standard Life Aberdeen plc now owns 23,153 shares of the medical research company’s stock valued at $2,252,000 after buying an additional 3,364 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
PerkinElmer Company Profile
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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