PerkinElmer (PKI) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of PerkinElmer (NYSE: PKI) in the last few weeks:

  • 1/10/2019 – PerkinElmer had its “average” rating reaffirmed by analysts at CIBC. They now have a $44.50 price target on the stock.
  • 1/6/2019 – PerkinElmer had its “hold” rating reaffirmed by analysts at Cowen Inc. They now have a $85.00 price target on the stock.
  • 1/4/2019 – PerkinElmer was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PerkinElmer outperformed the industry in a year’s time. The company witnessed strong performances by its core DAS and Diagnostics units in recent times. The growth came from strength in life sciences markets, immunodiagnostics and applied genomics business lines. Solid international growth also buoys optimism. The company’s efforts to introduce AI in its core segments is also a major positive. Solid outlook for revenues also paints a bright picture. Robust gross and operating margin expansion is impressive as well. On the flip side, the company slashed its full-year guidance. Currently, it expects incremental foreign exchange headwinds to impact results in the rest of 2018. Furthermore, PerkinElmer continues to acquire a large number of companies, which increases integration risks. The stock is overvalued at the moment.”
  • 1/3/2019 – PerkinElmer had its price target lowered by analysts at Morgan Stanley from $100.00 to $86.00. They now have an “overweight” rating on the stock.
  • 1/3/2019 – PerkinElmer was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $86.00 price target on the stock. According to Zacks, “PerkinElmer outperformed the industry in a year’s time. The company witnessed strong performances by its core DAS and Diagnostics units in recent times. The growth came from strength in life sciences markets, immunodiagnostics and applied genomics business lines. Solid international growth also buoys optimism. The company’s efforts to introduce AI in its core segments is also a major positive. Solid outlook for revenues also paints a bright picture. Robust gross and operating margin expansion is impressive as well. On the flip side, the company slashed its full-year guidance. Currently, it expects incremental foreign exchange headwinds to impact results in the rest of 2018. Furthermore, PerkinElmer continues to acquire a large number of companies, which increases integration risks. The stock is overvalued at the moment.”
  • 1/2/2019 – PerkinElmer is now covered by analysts at Needham & Company LLC. They set a “hold” rating and a $79.00 price target on the stock.

NYSE PKI opened at $83.51 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.73. PerkinElmer, Inc. has a 12-month low of $70.74 and a 12-month high of $98.33. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. The business had revenue of $674.30 million for the quarter, compared to analysts’ expectations of $676.72 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Sell-side analysts predict that PerkinElmer, Inc. will post 3.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. PerkinElmer’s dividend payout ratio is currently 9.66%.

In related news, Director Alexis P. Michas sold 5,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.95, for a total value of $454,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick J. Sullivan sold 10,000 shares of the stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total transaction of $816,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $1,609,550. 2.10% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new position in PerkinElmer in the third quarter worth about $107,000. Tower Research Capital LLC TRC raised its stake in PerkinElmer by 69.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,972 shares of the medical research company’s stock worth $191,000 after buying an additional 806 shares in the last quarter. Ibex Investors LLC bought a new position in PerkinElmer in the third quarter worth about $206,000. Conning Inc. bought a new position in PerkinElmer in the third quarter worth about $212,000. Finally, Sapphire Star Partners LP bought a new position in PerkinElmer in the third quarter worth about $221,000. 94.83% of the stock is owned by institutional investors.

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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