PerkinElmer, Inc. (PKI) PT Set at $65.00 by Cantor Fitzgerald
PerkinElmer, Inc. (NYSE:PKI) has been given a $65.00 target price by research analysts at Cantor Fitzgerald in a research note issued on Monday. The firm currently has a “hold” rating on the medical research company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 2.25% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Janney Montgomery Scott upgraded PerkinElmer from a “neutral” rating to a “buy” rating in a report on Monday, March 27th. Jefferies Group LLC restated a “hold” rating and set a $49.00 target price on shares of PerkinElmer in a report on Friday, May 5th. Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Citigroup Inc. upped their target price on PerkinElmer from $57.00 to $67.00 and gave the company a “buy” rating in a report on Friday, April 7th. Finally, BidaskClub downgraded PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.30.
PerkinElmer (NYSE:PKI) traded up 5.624% on Monday, reaching $67.145. 1,641,340 shares of the company’s stock traded hands. The firm’s 50-day moving average is $62.63 and its 200 day moving average is $56.70. PerkinElmer has a 12 month low of $45.35 and a 12 month high of $67.67. The firm has a market cap of $7.39 billion, a PE ratio of 32.738 and a beta of 0.73.
PerkinElmer (NYSE:PKI) last announced its earnings results on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $514.12 million during the quarter, compared to the consensus estimate of $506.81 million. PerkinElmer had a return on equity of 13.97% and a net margin of 10.24%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities analysts predict that PerkinElmer will post $2.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 21st will be paid a $0.07 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.44%. PerkinElmer’s payout ratio is 13.66%.
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In related news, Director Patrick J. Sullivan sold 6,628 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $62.59, for a total value of $414,846.52. Following the sale, the director now directly owns 42,951 shares of the company’s stock, valued at $2,688,303.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter Barrett sold 10,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total value of $632,200.00. Following the completion of the sale, the director now directly owns 29,200 shares in the company, valued at $1,846,024. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,565 shares of company stock worth $10,056,999. 2.20% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of PKI. Russell Investments Group Ltd. purchased a new stake in shares of PerkinElmer during the fourth quarter valued at $988,000. Bessemer Group Inc. boosted its stake in PerkinElmer by 86.9% in the fourth quarter. Bessemer Group Inc. now owns 14,370 shares of the medical research company’s stock worth $750,000 after buying an additional 6,680 shares in the last quarter. State Street Corp boosted its stake in PerkinElmer by 6.8% in the fourth quarter. State Street Corp now owns 3,792,638 shares of the medical research company’s stock worth $197,792,000 after buying an additional 241,465 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in PerkinElmer by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,280 shares of the medical research company’s stock worth $328,000 after buying an additional 32 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in PerkinElmer by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 772,837 shares of the medical research company’s stock worth $40,304,000 after buying an additional 59,736 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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