Shares of PerkinElmer, Inc. (NYSE:PKI) have been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $81.23.
A number of equities research analysts have weighed in on PKI shares. Piper Jaffray Companies lifted their target price on PerkinElmer to $104.00 and gave the company an “overweight” rating in a research report on Friday, February 1st. Desjardins reaffirmed an “average” rating and set a $45.00 target price on shares of PerkinElmer in a research report on Wednesday, January 16th. Morgan Stanley decreased their target price on PerkinElmer from $100.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, January 3rd. UBS Group set a $92.00 target price on PerkinElmer and gave the company a “hold” rating in a research report on Saturday, February 2nd. Finally, Zacks Investment Research lowered PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, January 4th.
Shares of NYSE PKI opened at $94.04 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.16. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.88 and a beta of 1.25. PerkinElmer has a twelve month low of $70.83 and a twelve month high of $98.33.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.02. The business had revenue of $756.35 million during the quarter, compared to analyst estimates of $746.15 million. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. During the same period in the previous year, the company posted $0.97 EPS. Research analysts expect that PerkinElmer will post 4.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, April 17th. PerkinElmer’s payout ratio is 7.76%.
In other news, insider Joel S. Goldberg sold 24,465 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $92.81, for a total value of $2,270,596.65. Following the completion of the transaction, the insider now directly owns 84,277 shares of the company’s stock, valued at approximately $7,821,748.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicholas A. Lopardo sold 1,600 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,984 shares of company stock valued at $3,252,048. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PKI. Norges Bank purchased a new stake in PerkinElmer during the 4th quarter valued at about $66,531,000. FMR LLC grew its stake in PerkinElmer by 84.1% during the 3rd quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock valued at $135,194,000 after purchasing an additional 634,806 shares during the last quarter. BlackRock Inc. grew its stake in PerkinElmer by 7.4% during the 4th quarter. BlackRock Inc. now owns 7,001,732 shares of the medical research company’s stock valued at $549,985,000 after purchasing an additional 482,906 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in PerkinElmer by 10.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,766,757 shares of the medical research company’s stock valued at $295,879,000 after purchasing an additional 353,534 shares during the last quarter. Finally, Morgan Stanley grew its stake in PerkinElmer by 58.3% during the 3rd quarter. Morgan Stanley now owns 560,904 shares of the medical research company’s stock valued at $54,558,000 after purchasing an additional 206,560 shares during the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.
PerkinElmer Company Profile
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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