PerkinElmer, Inc. (NYSE:PKI) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $68.38.

Several brokerages have recently issued reports on PKI. Cantor Fitzgerald reiterated a “hold” rating on shares of PerkinElmer in a research note on Sunday, July 16th. Piper Jaffray Companies restated a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a research report on Friday, August 4th. Citigroup Inc. restated a “buy” rating and set a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a research report on Tuesday, September 26th. Cowen and Company restated a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Credit Suisse AG increased its stake in shares of PerkinElmer by 6.5% in the first quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock worth $6,306,000 after purchasing an additional 6,665 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of PerkinElmer by 36.3% in the second quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock worth $6,502,000 after purchasing an additional 25,404 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of PerkinElmer by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock worth $3,545,000 after purchasing an additional 19,464 shares in the last quarter. Legal & General Group Plc increased its stake in shares of PerkinElmer by 13.0% in the second quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock worth $6,815,000 after purchasing an additional 11,530 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of PerkinElmer by 10.5% in the first quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock worth $15,834,000 after purchasing an additional 25,976 shares in the last quarter. 92.46% of the stock is owned by hedge funds and other institutional investors.

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PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.

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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