PerkinElmer, Inc. (NYSE:PKI) PT Raised to $80.00 at Piper Jaffray Companies
PerkinElmer, Inc. (NYSE:PKI) had its price target lifted by Piper Jaffray Companies to $80.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the medical research company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 15.32% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $69.00 price target (up previously from $58.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $65.00 price target on shares of PerkinElmer in a report on Monday, May 15th. Barclays PLC set a $55.00 price target on shares of PerkinElmer and gave the stock a “sell” rating in a report on Saturday, May 6th. Citigroup Inc. upped their price target on shares of PerkinElmer from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, April 7th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $70.00 price target (up previously from $61.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. PerkinElmer presently has an average rating of “Hold” and an average price target of $65.20.
Shares of PerkinElmer (NYSE:PKI) traded down 0.89% during midday trading on Tuesday, hitting $68.75. The company’s stock had a trading volume of 94,658 shares. The firm has a market cap of $7.57 billion, a P/E ratio of 33.52 and a beta of 0.76. The stock’s 50 day moving average is $67.29 and its 200-day moving average is $59.63. PerkinElmer has a 52-week low of $45.35 and a 52-week high of $70.16.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, May 4th. The medical research company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The business had revenue of $514.12 million for the quarter, compared to analysts’ expectations of $506.81 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts predict that PerkinElmer will post $2.86 EPS for the current fiscal year.
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In other PerkinElmer news, insider Robert F. Friel sold 124,837 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $60.11, for a total transaction of $7,503,952.07. Following the completion of the sale, the insider now directly owns 696,810 shares in the company, valued at $41,885,249.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert F. Friel sold 25,100 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $60.00, for a total transaction of $1,506,000.00. Following the sale, the insider now owns 597,071 shares of the company’s stock, valued at $35,824,260. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,923 shares of company stock valued at $10,340,269. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in PerkinElmer by 28.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock worth $115,000 after buying an additional 434 shares in the last quarter. Twin Tree Management LP purchased a new stake in PerkinElmer during the first quarter worth $122,000. Ameritas Investment Partners Inc. purchased a new stake in PerkinElmer during the first quarter worth $152,000. LS Investment Advisors LLC raised its stake in PerkinElmer by 36.9% in the first quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after buying an additional 759 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in PerkinElmer by 158.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,997 shares of the medical research company’s stock worth $156,000 after buying an additional 1,837 shares in the last quarter. Institutional investors own 92.43% of the company’s stock.
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.
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