PerkinElmer, Inc. (NYSE:PKI) insider Andrew Okun sold 16,788 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $95.03, for a total transaction of $1,595,363.64. Following the completion of the transaction, the insider now owns 25,670 shares of the company’s stock, valued at approximately $2,439,420.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of PKI traded up $1.28 during mid-day trading on Thursday, hitting $96.30. 5,311 shares of the company were exchanged, compared to its average volume of 505,181. PerkinElmer, Inc. has a 1-year low of $70.83 and a 1-year high of $98.33. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 0.73. The company has a market cap of $10.54 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.91 and a beta of 1.25.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.02. PerkinElmer had a net margin of 8.56% and a return on equity of 15.89%. The firm had revenue of $756.35 million during the quarter, compared to the consensus estimate of $746.15 million. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that PerkinElmer, Inc. will post 4.03 earnings per share for the current year.
A number of brokerages have weighed in on PKI. UBS Group set a $92.00 price objective on shares of PerkinElmer and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Piper Jaffray Companies upped their price objective on shares of PerkinElmer to $104.00 and gave the stock an “overweight” rating in a research report on Friday, February 1st. Desjardins reiterated an “average” rating and issued a $45.00 price objective on shares of PerkinElmer in a research report on Wednesday, January 16th. CIBC reiterated an “average” rating and issued a $44.50 price objective on shares of PerkinElmer in a research report on Thursday, January 10th. Finally, Needham & Company LLC started coverage on shares of PerkinElmer in a research report on Wednesday, January 2nd. They issued a “hold” rating and a $79.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.99.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PKI. Lindbrook Capital LLC acquired a new position in shares of PerkinElmer during the 4th quarter worth about $25,000. Citizens Financial Group Inc RI acquired a new stake in PerkinElmer in the 4th quarter valued at about $32,000. Penserra Capital Management LLC acquired a new stake in PerkinElmer in the 4th quarter valued at about $35,000. Karp Capital Management Corp acquired a new stake in PerkinElmer in the 4th quarter valued at about $47,000. Finally, Financial Gravity Companies Inc. acquired a new stake in PerkinElmer in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.
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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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