PerkinElmer, Inc. (NYSE:PKI) announced a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Friday, October 20th will be paid a dividend of 0.07 per share by the medical research company on Friday, November 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%.

PerkinElmer has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PerkinElmer to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.8%.

PerkinElmer (NYSE PKI) traded down 0.22% during mid-day trading on Monday, reaching $69.37. 348,629 shares of the company were exchanged. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 33.82 and a beta of 0.76. The stock’s 50-day moving average price is $67.00 and its 200-day moving average price is $59.34. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $70.16.

PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, May 4th. The medical research company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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%. PerkinElmer’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. On average, equities research analysts anticipate that PerkinElmer will post $2.86 EPS for the current fiscal year.

In other news, 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 sale, the director now directly owns 29,200 shares in the company, valued at $1,846,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Okun sold 4,358 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the completion of the sale, the insider now owns 16,799 shares in the company, valued at $1,091,935. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,923 shares of company stock worth $10,340,269. 2.20% of the stock is owned by company insiders.

WARNING: This report was first reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/07/24/perkinelmer-inc-announces-quarterly-dividend-of-0-07-pki.html.

PKI has been the subject of several research reports. Cantor Fitzgerald downgraded PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, April 19th. Janney Montgomery Scott raised PerkinElmer from a “neutral” rating to a “buy” rating in a research report on Monday, March 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of PerkinElmer in a research report on Friday, May 5th. Evercore ISI reaffirmed an “in-line” rating and issued a $68.00 target price (up from $62.50) on shares of PerkinElmer in a research report on Thursday, June 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price objective (up previously from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $64.14.

PerkinElmer Company Profile

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.

Dividend History for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.