PerkinElmer (NYSE:PKI) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other analysts have also recently weighed in on the stock. Robert W. Baird raised their price objective on shares of PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Morgan Stanley restated an “overweight” rating and set a $77.00 price objective (down previously from $79.00) on shares of PerkinElmer in a research report on Friday, October 6th. Jefferies Group restated a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. Cowen restated a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research report on Friday, September 1st. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.64.

PerkinElmer (NYSE PKI) traded down $0.56 during trading on Friday, hitting $73.12. 467,175 shares of the stock traded hands, compared to its average volume of 619,393. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 2.59. The stock has a market cap of $8,121.39, a PE ratio of 26.50, a P/E/G ratio of 2.20 and a beta of 0.77. PerkinElmer has a 12-month low of $50.51 and a 12-month high of $74.11.

In related news, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $73.18, for a total value of $365,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas A. Lopardo sold 24,050 shares of PerkinElmer stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $70.72, for a total transaction of $1,700,816.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,121 shares of company stock worth $2,569,252. 2.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PKI. Bank of Montreal Can raised its position in PerkinElmer by 15.1% in the 2nd quarter. Bank of Montreal Can now owns 37,753 shares of the medical research company’s stock worth $2,572,000 after purchasing an additional 4,955 shares during the period. LS Investment Advisors LLC increased its position in shares of PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 60 shares during the period. Louisiana State Employees Retirement System increased its position in shares of PerkinElmer by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the medical research company’s stock valued at $463,000 after acquiring an additional 100 shares during the period. Russell Investments Group Ltd. increased its position in shares of PerkinElmer by 396.4% in the second quarter. Russell Investments Group Ltd. now owns 106,528 shares of the medical research company’s stock valued at $7,258,000 after acquiring an additional 85,069 shares during the period. Finally, ING Groep NV increased its position in shares of PerkinElmer by 0.6% in the second quarter. ING Groep NV now owns 6,057 shares of the medical research company’s stock valued at $413,000 after acquiring an additional 38 shares during the period. Institutional investors own 91.66% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

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