PerkinElmer’s (PKI) Buy Rating Reaffirmed at Robert W. Baird
PerkinElmer, Inc. (NYSE:PKI)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research note issued on Friday. They currently have a $72.00 price objective on the medical research company’s stock. Robert W. Baird’s price objective indicates a potential upside of 0.38% from the stock’s previous close.
A number of other brokerages have also weighed in on PKI. BidaskClub lowered PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Evercore ISI restated an “in-line” rating and issued a $68.00 price objective (up previously from $62.50) on shares of PerkinElmer in a report on Thursday, June 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $81.00 price objective on shares of PerkinElmer in a report on Friday, August 4th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, August 1st. Finally, Citigroup Inc. raised their price objective on PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 7th. Two investment 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 an average rating of “Hold” and an average target price of $68.14.
PerkinElmer (NYSE PKI) traded up 0.57% during trading on Friday, hitting $71.73. 462,010 shares of the stock traded hands. The stock has a 50 day moving average price of $69.39 and a 200-day moving average price of $65.31. The stock has a market cap of $7.91 billion, a P/E ratio of 21.63 and a beta of 0.72. PerkinElmer has a 52-week low of $45.35 and a 52-week high of $72.11.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $547.00 million for the quarter, compared to analyst estimates of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. On average, analysts anticipate that PerkinElmer will post $2.89 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of PKI. Waldron LP acquired a new stake in shares of PerkinElmer in the 1st quarter worth $233,000. Russell Investments Group Ltd. increased its stake in shares of 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 acquiring an additional 2,531 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of 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 acquiring an additional 9,507 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of 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 acquiring an additional 434 shares during the last quarter. Finally, United Services Automobile Association increased its stake in shares of 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 acquiring an additional 296 shares during the last quarter. 91.47% of the stock is owned by institutional investors and hedge funds.
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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