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.
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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.