PerkinElmer (PKI) Now Covered by Evercore ISI

Investment analysts at Evercore ISI assumed coverage on shares of PerkinElmer (NYSE:PKI) in a research note issued to investors on Wednesday, The Fly reports. The firm set a $77.00 price target on the medical research company’s stock. Evercore ISI’s target price suggests a potential upside of 1.10% from the company’s current price.

Several other equities analysts have also recently issued reports on PKI. Morgan Stanley lifted their price objective on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Robert W. Baird lifted their price objective on PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Citigroup reiterated a “buy” rating and issued a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a research note on Tuesday, September 26th. Jefferies Group reiterated a “hold” rating and issued a $70.00 price objective on shares of PerkinElmer in a research note on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. PerkinElmer has an average rating of “Hold” and a consensus price target of $71.43.

PerkinElmer (NYSE:PKI) traded up $2.25 during midday trading on Wednesday, reaching $76.16. The company’s stock had a trading volume of 578,707 shares, compared to its average volume of 673,550. The firm has a market cap of $8,380.00, a P/E ratio of 34.46, a P/E/G ratio of 1.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 2.59. PerkinElmer has a 52 week low of $50.59 and a 52 week high of $76.20.

In other news, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $73.18, for a total value of $365,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Barrett sold 7,071 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 26,271 shares in the company, valued at approximately $1,867,079.97. The disclosure for this sale can be found here. In the last three months, insiders sold 86,336 shares of company stock worth $6,114,917. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings 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 worth $741,816,000 after acquiring an additional 273,975 shares during the period. Janus Henderson Group PLC acquired a new position in PerkinElmer during the second quarter worth $436,483,000. BlackRock Inc. grew its holdings in PerkinElmer by 2.4% during the second quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after acquiring an additional 141,650 shares during the period. King Luther Capital Management Corp grew its holdings 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 worth $176,759,000 after acquiring an additional 32,248 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in PerkinElmer by 9.9% during the third quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock worth $65,923,000 after acquiring an additional 86,395 shares during the period. 91.37% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “PerkinElmer (PKI) Now Covered by Evercore ISI” was first reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/03/perkinelmer-pki-now-covered-by-evercore-isi.html.

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.