Insider Selling: PerkinElmer CEO Sells 124,858 Shares of Stock (PKI)
PerkinElmer (NYSE:PKI) CEO Robert F. Friel sold 124,858 shares of the stock on the open market in a transaction dated Monday, June 9th. The shares were sold at an average price of $46.70, for a total transaction of $5,830,868.60. Following the completion of the transaction, the chief executive officer now directly owns 532,310 shares of the company’s stock, valued at approximately $24,858,877. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of PerkinElmer (NYSE:PKI) traded down 0.28% on Tuesday, hitting $46.88. 801,957 shares of the company’s stock traded hands. PerkinElmer has a one year low of $32.08 and a one year high of $47.64. The stock has a 50-day moving average of $44.13 and a 200-day moving average of $43.12. The company has a market cap of $5.308 billion and a P/E ratio of 31.47.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.36 earnings per share. PerkinElmer’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that PerkinElmer will post $2.46 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Wedbush raised their price target on shares of PerkinElmer from $47.00 to $52.00 in a research note on Wednesday, June 4th. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target 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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