PerkinElmer Price Target Raised to $52.00 at Wedbush (PKI)
Wedbush raised their price objective on shares of PerkinElmer (NYSE:PKI) from $47.00 to $52.00 in a research note issued on Wednesday. Wedbush’s target price indicates a potential upside of 12.63% from the company’s current price.
Shares of PerkinElmer (NYSE:PKI) traded up 0.78% during mid-day trading on Wednesday, hitting $46.53. 213,064 shares of the company’s stock traded hands. PerkinElmer has a 1-year low of $31.74 and a 1-year high of $46.72. The stock has a 50-day moving average of $43.81 and a 200-day moving average of $42.89. The company has a market cap of $5.268 billion and a P/E ratio of 30.90.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.02. The company had revenue of $531.90 million for the quarter, compared to the consensus estimate of $531.31 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that PerkinElmer will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, July 16th.
In other PerkinElmer news, Insider Joel S. Goldberg sold 17,000 shares of PerkinElmer stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $45.11, for a total value of $766,870.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PerkinElmer in a research note on Wednesday, May 14th. They now have a $47.00 price target on the stock. Separately, analysts at Janney Montgomery Scott upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Monday, May 5th. They now have a $50.00 price target on the stock, up previously from $49.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of PerkinElmer in a research note on Friday, April 25th. They now have a $44.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.17.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets.
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