PerkinElmer, Inc. (PKI) Given Consensus Rating of “Hold” by Brokerages
Shares of PerkinElmer, Inc. (NYSE:PKI) have received a consensus recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $67.17.
A number of analysts have weighed in on PKI shares. Evercore ISI reissued an “in-line” rating and issued a $68.00 price target (up from $62.50) on shares of PerkinElmer in a report on Thursday, June 22nd. BidaskClub downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Barclays PLC set a $55.00 price target on shares of PerkinElmer and gave the company a “sell” rating in a report on Saturday, May 6th. Cantor Fitzgerald reissued a “hold” rating and issued a $65.00 price target on shares of PerkinElmer in a report on Friday, May 5th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $81.00 price objective on shares of PerkinElmer in a research note on Friday, August 4th.
In related news, insider Andrew Okun sold 4,358 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total transaction of $283,270.00. Following the completion of the sale, the insider now owns 16,799 shares in the company, valued at approximately $1,091,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Barrett sold 10,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the sale, the director now owns 29,200 shares of the company’s stock, valued at approximately $1,846,024. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Large investors have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of PerkinElmer by 26.4% in the second quarter. Toronto Dominion Bank now owns 35,925 shares of the medical research company’s stock worth $2,447,000 after buying an additional 7,505 shares during the period. WINTON GROUP Ltd boosted its stake in shares of PerkinElmer by 89.6% in the second quarter. WINTON GROUP Ltd now owns 238,331 shares of the medical research company’s stock worth $16,240,000 after buying an additional 112,611 shares during the period. Koch Industries Inc. purchased a new stake in shares of PerkinElmer during the second quarter worth about $364,000. Piedmont Investment Advisors LLC boosted its stake in shares of PerkinElmer by 42.6% in the second quarter. Piedmont Investment Advisors LLC now owns 22,944 shares of the medical research company’s stock worth $1,563,000 after buying an additional 6,858 shares during the period. Finally, Castleark Management LLC boosted its stake in shares of PerkinElmer by 22.9% in the second quarter. Castleark Management LLC now owns 68,915 shares of the medical research company’s stock worth $4,696,000 after buying an additional 12,855 shares during the period. Institutional investors and hedge funds own 91.47% of the company’s stock.
PerkinElmer (NYSE:PKI) opened at 63.47 on Friday. The company’s 50 day moving average is $66.79 and its 200 day moving average is $61.18. PerkinElmer has a 12-month low of $45.35 and a 12-month high of $70.16. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 19.14 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547 million during the quarter, compared to the consensus estimate of $554.14 million. During the same period in the prior year, the firm earned $0.67 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that PerkinElmer will post $2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
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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