PerkinElmer (NYSE:PKI) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $78.00 price objective on the medical research company’s stock. Bank of America’s price target points to a potential upside of 5.63% from the stock’s previous close.
Several other equities analysts also recently commented on PKI. Cowen reaffirmed a “hold” rating and issued a $70.00 price objective on shares of PerkinElmer in a research report on Friday, September 1st. Citigroup reaffirmed a “buy” rating and issued a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a research report on Tuesday, September 26th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $67.00 price objective on shares of PerkinElmer in a research report on Tuesday, September 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $77.00 price objective (down previously from $79.00) on shares of PerkinElmer in a research report on Friday, October 6th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $72.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.79.
Shares of PerkinElmer (PKI) traded up $0.68 during trading on Tuesday, reaching $73.84. The company’s stock had a trading volume of 546,751 shares, compared to its average volume of 633,748. The company has a market cap of $7,950.54, a P/E ratio of 25.95, a PEG ratio of 2.16 and a beta of 0.77. The company has a quick ratio of 2.09, a current ratio of 2.59 and a debt-to-equity ratio of 0.44. PerkinElmer has a 12 month low of $50.59 and a 12 month high of $74.12.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in PerkinElmer by 2.6% during the second quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock valued at $741,816,000 after purchasing an additional 273,975 shares in the last quarter. Janus Henderson Group PLC bought a new stake in PerkinElmer during the second quarter valued at about $436,483,000. BlackRock Inc. boosted its position in PerkinElmer by 2.4% during the second quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock valued at $404,022,000 after purchasing an additional 141,650 shares in the last quarter. King Luther Capital Management Corp boosted its position in PerkinElmer by 1.3% during the third quarter. King Luther Capital Management Corp now owns 2,562,833 shares of the medical research company’s stock valued at $176,759,000 after purchasing an additional 32,248 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in PerkinElmer by 9.9% during the third quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock valued at $65,923,000 after purchasing an additional 86,395 shares in the last quarter. 91.37% of the stock is currently owned by institutional investors.
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.
