PerkinElmer (NYSE:PKI) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of PerkinElmer (NYSE:PKI) in a report issued on Thursday, Briefing.com Automated Import reports. The firm issued a buy rating and a $102.00 target price on the medical research company’s stock.

Several other brokerages have also recently commented on PKI. Wood & Company reiterated an average rating and set a $49.00 price target on shares of PerkinElmer in a research report on Friday, July 19th. Piper Jaffray Companies cut PerkinElmer from an overweight rating to a neutral rating and dropped their price target for the stock from $104.00 to $89.00 in a research report on Thursday, October 31st. BMO Capital Markets boosted their price target on PerkinElmer from $50.00 to $52.00 and gave the stock an outperform rating in a research report on Wednesday, November 6th. ValuEngine cut PerkinElmer from a buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, Raymond James reiterated an average rating and set a $51.00 price target on shares of PerkinElmer in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $73.59.

Shares of PKI traded up $2.83 during trading hours on Thursday, hitting $90.95. 748,774 shares of the stock were exchanged, compared to its average volume of 709,816. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.30. PerkinElmer has a 12-month low of $71.83 and a 12-month high of $103.00. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.29. The stock’s 50-day moving average price is $85.11 and its two-hundred day moving average price is $88.21.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. PerkinElmer had a return on equity of 16.45% and a net margin of 8.27%. The firm had revenue of $706.92 million during the quarter, compared to analysts’ expectations of $722.69 million. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts expect that PerkinElmer will post 4.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, January 16th. PerkinElmer’s dividend payout ratio (DPR) is currently 7.76%.

In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $82.56, for a total transaction of $165,120.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKI. Phocas Financial Corp. acquired a new position in shares of PerkinElmer in the 2nd quarter valued at $2,620,000. Bartlett & Co. LLC lifted its stake in shares of PerkinElmer by 430.1% in the 3rd quarter. Bartlett & Co. LLC now owns 493 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 400 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in shares of PerkinElmer in the 2nd quarter valued at $48,000. CSat Investment Advisory L.P. lifted its stake in shares of PerkinElmer by 74.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 538 shares of the medical research company’s stock valued at $51,000 after purchasing an additional 229 shares during the last quarter. Finally, Coastal Capital Group Inc. acquired a new position in shares of PerkinElmer in the 2nd quarter valued at $58,000. 95.77% of the stock is currently owned by 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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