PerkinElmer, Inc. (NYSE:PKI)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a research note issued on Friday. They currently have a $70.00 price target on the medical research company’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 2.41% from the stock’s current price.

Several other research analysts have also recently commented on the company. Robert W. Baird reiterated a “buy” rating and issued a $72.00 price target on shares of PerkinElmer in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $77.00 price target (down previously from $79.00) on shares of PerkinElmer in a research note on Friday, October 6th. Goldman Sachs Group Inc reiterated a “neutral” rating and issued a $67.00 price target on shares of PerkinElmer in a research note on Tuesday, September 26th. Citigroup Inc. reiterated a “buy” rating and issued a $80.00 price target (up previously from $74.00) on shares of PerkinElmer in a research note on Tuesday, September 26th. Finally, Cowen and Company reiterated a “hold” rating and issued a $70.00 price target on shares of PerkinElmer in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $68.14.

PerkinElmer (NYSE:PKI) traded up 0.57% on Friday, hitting $71.73. The stock had a trading volume of 462,010 shares. The company’s 50 day moving average is $69.39 and its 200 day moving average is $65.31. The firm has a market cap of $7.91 billion, a PE ratio of 21.63 and a beta of 0.72. PerkinElmer has a 12-month low of $45.35 and a 12-month high of $72.11.

PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $554.14 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that PerkinElmer will post $2.89 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of PKI. Waldron LP bought a new position in PerkinElmer in the 1st quarter worth approximately $233,000. Russell Investments Group Ltd. grew its holdings in PerkinElmer by 13.4% in the 1st quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock worth $1,245,000 after buying an additional 2,531 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in PerkinElmer by 15.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 73,057 shares of the medical research company’s stock worth $4,242,000 after buying an additional 9,507 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in PerkinElmer by 28.1% in the 1st 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. Finally, United Services Automobile Association grew its holdings in PerkinElmer by 0.9% in the 1st quarter. United Services Automobile Association now owns 34,183 shares of the medical research company’s stock worth $1,985,000 after buying an additional 296 shares in the last quarter. 91.47% of the stock is owned by institutional investors and hedge funds.

About PerkinElmer

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.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

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