PerkinElmer (NYSE:PKI) Earns Outperform Rating from Analysts at Raymond James

Raymond James initiated coverage on shares of PerkinElmer (NYSE:PKI) in a report published on Wednesday morning, Stock Target Advisor reports. The brokerage issued an outperform rating on the medical research company’s stock.

A number of other equities analysts have also recently weighed in on PKI. Zacks Investment Research raised shares of Icon from a hold rating to a buy rating and set a $157.00 price target on the stock in a research note on Thursday, May 30th. Goldman Sachs Group cut shares of TerraForm Power from a neutral rating to a sell rating and set a $12.00 price target on the stock. in a research note on Tuesday, April 9th. They noted that the move was a valuation call. Wolfe Research started coverage on shares of Waters in a research note on Thursday, May 30th. They issued an underperform rating on the stock. Finally, Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the company a buy rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $81.32.

NYSE:PKI opened at $95.18 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.68. PerkinElmer has a fifty-two week low of $71.83 and a fifty-two week high of $103.00. The firm has a market cap of $10.63 billion, a PE ratio of 26.04, a PEG ratio of 1.70 and a beta of 1.26. The stock’s fifty day moving average is $92.90.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. PerkinElmer had a net margin of 8.89% and a return on equity of 15.98%. The business had revenue of $648.70 million for the quarter, compared to analysts’ expectations of $645.38 million. During the same period in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts forecast that PerkinElmer will post 4.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. PerkinElmer’s payout ratio is 7.76%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in PerkinElmer in the 4th quarter valued at about $66,531,000. Geode Capital Management LLC lifted its holdings in PerkinElmer by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,522,499 shares of the medical research company’s stock valued at $119,450,000 after purchasing an additional 124,168 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in PerkinElmer by 42.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 408,941 shares of the medical research company’s stock valued at $39,406,000 after purchasing an additional 121,552 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in PerkinElmer by 184.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 125,062 shares of the medical research company’s stock valued at $9,824,000 after purchasing an additional 81,029 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in PerkinElmer by 59.3% in the 4th quarter. Deutsche Bank AG now owns 177,244 shares of the medical research company’s stock valued at $13,919,000 after purchasing an additional 65,985 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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