PerkinElmer (NYSE:PKI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $86.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.78% from the company’s current price.

According to Zacks, “PerkinElmer’s share price movement in the last year has been unsatisfactory. However, the company is well poised on solid organic revenue growth. Furthermore, a positive guidance instills our confidence in the stock. PerkinElmer’s strong global foothold is noteworthy, courtesy of its acquisition of Germany-based EUROIMMUN and India-based Tulip Diagnostics. The acquisition of EUROIMMUN should expand PerkinElmer’s reach into autoimmune and allergy diagnostic markets. Management expects the addition to drive R&D expense margin. With an enhanced focus on product innovation, PerkinElmer has considerable potential upside. On the flipside, despite having a solid portfolio, unfavorable foreign exchange is a primary concern. PerkinElmer continues to acquire a large number of companies. While this improves revenue opportunities, it adds to integration risks. Also, high debt levels may hinder the company’s expansion plans.”

A number of other equities research analysts also recently commented on the stock. Evercore ISI assumed coverage on shares of PerkinElmer in a research report on Wednesday, January 3rd. They issued an “in-line” rating and a $77.00 target price for the company. Bank of America raised shares of PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 target price for the company in a research report on Tuesday, December 19th. ValuEngine downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley lifted their target price on shares of PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Finally, Robert W. Baird lifted their target price on shares of PerkinElmer from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $72.29.

Shares of PerkinElmer (PKI) traded up $0.58 during midday trading on Monday, reaching $76.94. 558,200 shares of the company were exchanged, compared to its average volume of 681,000. PerkinElmer has a 52 week low of $50.59 and a 52 week high of $77.01. The stock has a market cap of $8,440.00, a price-to-earnings ratio of 34.81, a P/E/G ratio of 1.85 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.

In other news, Director Peter Barrett sold 7,071 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $71.07, for a total transaction of $502,535.97. Following the completion of the sale, the director now owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $73.18, for a total transaction of $365,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,336 shares of company stock valued at $6,114,917. Insiders own 2.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in PerkinElmer by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock worth $741,816,000 after buying an additional 273,975 shares during the period. Janus Henderson Group PLC purchased a new stake in PerkinElmer in the 2nd quarter worth $436,483,000. BlackRock Inc. lifted its stake in PerkinElmer by 2.4% in the 2nd quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after purchasing an additional 141,650 shares in the last quarter. King Luther Capital Management Corp lifted its stake in PerkinElmer by 1.3% in the 3rd quarter. King Luther Capital Management Corp now owns 2,562,833 shares of the medical research company’s stock worth $176,759,000 after purchasing an additional 32,248 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in PerkinElmer by 9.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 955,790 shares of the medical research company’s stock worth $65,923,000 after purchasing an additional 86,395 shares in the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.

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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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