PerkinElmer, Inc. (PKI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of PerkinElmer, Inc. (NYSE:PKI) have been given a consensus recommendation of “Hold” by the eighteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $72.85.

A number of brokerages have commented on PKI. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Monday, January 8th. Evercore ISI began coverage on PerkinElmer in a report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price objective for the company. Bank of America raised PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 price objective for the company in a report on Tuesday, December 19th. ValuEngine lowered PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group reissued a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a report on Friday, October 20th.

Shares of PerkinElmer (PKI) traded up $1.27 on Tuesday, reaching $78.89. The company’s stock had a trading volume of 448,700 shares, compared to its average volume of 560,511. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.09. The company has a market cap of $8,750.00, a price-to-earnings ratio of 35.70, a P/E/G ratio of 1.90 and a beta of 0.77. PerkinElmer has a 1 year low of $50.59 and a 1 year high of $79.02.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, January 18th. PerkinElmer’s dividend payout ratio is presently 12.67%.

In other news, Director Alexis P. Michas sold 5,000 shares of the company’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 Securities & Exchange Commission, which is available through this link. Also, insider Andrew Okun sold 12,680 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $72.00, for a total value of $912,960.00. Following the completion of the transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at $1,808,712. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,336 shares of company stock valued at $6,114,917. 2.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of PerkinElmer by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,175 shares of the medical research company’s stock valued at $557,000 after acquiring an additional 31 shares in the last quarter. Sentry Investment Management LLC grew its holdings in shares of PerkinElmer by 1.0% in the second quarter. Sentry Investment Management LLC now owns 8,025 shares of the medical research company’s stock valued at $547,000 after acquiring an additional 78 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of PerkinElmer by 1.9% in the second quarter. Westside Investment Management Inc. now owns 14,718 shares of the medical research company’s stock valued at $1,008,000 after acquiring an additional 275 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of PerkinElmer by 3.5% in the second quarter. Mutual of America Capital Management LLC now owns 13,470 shares of the medical research company’s stock valued at $918,000 after acquiring an additional 450 shares in the last quarter. Finally, Norinchukin Bank The grew its holdings in shares of PerkinElmer by 7.0% in the second quarter. Norinchukin Bank The now owns 7,637 shares of the medical research company’s stock valued at $520,000 after acquiring an additional 502 shares in the last quarter. 91.37% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/16/perkinelmer-inc-pki-receives-consensus-recommendation-of-hold-from-analysts-2.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.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply