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

Shares of PerkinElmer, Inc. (NYSE:PKI) have received a consensus rating of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $77.83.

A number of equities analysts have issued reports on PKI shares. Robert W. Baird restated a “buy” rating and set a $88.00 target price on shares of PerkinElmer in a report on Friday, January 26th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, January 8th. Cowen restated a “hold” rating and set a $84.00 target price on shares of PerkinElmer in a report on Friday, January 26th. Jefferies Group restated a “hold” rating and set a $70.00 target price on shares of PerkinElmer in a report on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st.

In other news, Director Peter Barrett sold 7,071 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $71.07, for a total transaction of $502,535.97. Following the sale, the director now owns 26,271 shares of the company’s stock, valued at $1,867,079.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew Okun sold 2,324 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $75.44, for a total value of $175,322.56. Following the sale, the insider now directly owns 8,876 shares in the company, valued at approximately $669,605.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,883 shares of company stock worth $4,766,399. 2.20% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PKI. Balyasny Asset Management LLC acquired a new stake in PerkinElmer in the 2nd quarter valued at approximately $271,000. Cornerstone Capital Management Holdings LLC. raised its position in PerkinElmer by 37.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 25,886 shares of the medical research company’s stock valued at $1,763,000 after buying an additional 7,053 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in PerkinElmer in the 2nd quarter valued at approximately $440,000. Cubist Systematic Strategies LLC acquired a new stake in PerkinElmer in the 2nd quarter valued at approximately $269,000. Finally, Nomura Holdings Inc. acquired a new stake in PerkinElmer in the 2nd quarter valued at approximately $567,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

PerkinElmer (NYSE PKI) opened at $72.83 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72. PerkinElmer has a 1-year low of $53.63 and a 1-year high of $84.49. The stock has a market capitalization of $7,942.83, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.66 and a beta of 0.76.

PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 25th. The medical research company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The firm had revenue of $641.63 million for the quarter, compared to analysts’ expectations of $619.14 million. During the same quarter last year, the business earned $0.83 earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year. sell-side analysts expect that PerkinElmer will post 3.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 13th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, April 12th. PerkinElmer’s dividend payout ratio is currently 10.61%.

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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)

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