PerkinElmer Sets New 12-Month High Following Analyst Upgrade (PKI)
Shares of PerkinElmer (NYSE:PKI) hit a new 52-week high during trading on Thursday after Wedbush raised their price target on the stock from $47.00 to $52.00, AnalystRatings.NET reports. The stock traded as high as $46.78 and last traded at $46.70, with a volume of 375,804 shares trading hands. The stock had previously closed at $46.25.
A number of other firms have also recently commented on PKI. 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 analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.17.
In other PerkinElmer news, Insider Joel S. Goldberg sold 17,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $45.11, for a total transaction of $766,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $43.87 and a 200-day moving average of $42.91. The company has a market cap of $5.279 billion and a price-to-earnings ratio of 30.96.
PerkinElmer (NYSE:PKI) last announced its earnings results on Thursday, April 24th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter 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. Investors 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.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets.
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