PerkinElmer, Inc. (PKI) Expected to Post Quarterly Sales of $615.80 Million

Wall Street analysts predict that PerkinElmer, Inc. (NYSE:PKI) will post sales of $615.80 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for PerkinElmer’s earnings. The highest sales estimate is $619.70 million and the lowest is $613.15 million. PerkinElmer posted sales of $566.77 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The business is scheduled to report its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that PerkinElmer will report full year sales of $615.80 million for the current financial year, with estimates ranging from $2.23 billion to $2.24 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.42 billion per share, with estimates ranging from $2.33 billion to $2.70 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for PerkinElmer.

Several analysts have weighed in on PKI shares. Morgan Stanley boosted their price objective on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Robert W. Baird boosted their price objective on PerkinElmer from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Citigroup boosted their price objective on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group reissued a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a report on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.64.

In other news, Director Alexis P. Michas sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Barrett sold 7,071 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $71.07, for a total value of $502,535.97. Following the completion of the sale, the director now directly owns 26,271 shares of the company’s stock, valued at $1,867,079.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,121 shares of company stock valued at $2,569,252. 2.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PKI. Acrospire Investment Management LLC grew its position in shares of PerkinElmer by 185.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,300 shares during the period. LS Investment Advisors LLC grew its position in shares of PerkinElmer by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 60 shares during the period. Waldron LP acquired a new position in shares of PerkinElmer in the 3rd quarter valued at approximately $200,000. Seaward Management Limited Partnership acquired a new position in shares of PerkinElmer in the 3rd quarter valued at approximately $202,000. Finally, Carret Asset Management LLC acquired a new position in shares of PerkinElmer in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.66% of the company’s stock.

Shares of PerkinElmer (NYSE:PKI) opened at $73.12 on Friday. The firm has a market capitalization of $8,121.39, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. PerkinElmer has a twelve month low of $50.51 and a twelve month high of $74.11. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44.

The business also recently declared 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 0.38%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.

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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.

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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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