PerkinElmer (NYSE:PKI) Price Target Raised to $149.00

PerkinElmer (NYSE:PKIGet Rating) had its target price lifted by Barclays from $125.00 to $149.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the medical research company’s stock.

Several other research analysts have also recently commented on PKI. Robert W. Baird raised their target price on shares of PerkinElmer from $198.00 to $202.00 and gave the stock an outperform rating in a report on Tuesday. Bank of America cut shares of PerkinElmer from a buy rating to a neutral rating and set a $178.00 price objective on the stock. in a research note on Tuesday. UBS Group started coverage on shares of PerkinElmer in a research note on Wednesday, July 20th. They issued a buy rating and a $160.00 price objective on the stock. Citigroup decreased their price objective on shares of PerkinElmer from $185.00 to $170.00 in a research note on Wednesday, May 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of PerkinElmer from $200.00 to $175.00 and set a neutral rating on the stock in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $161.13.

PerkinElmer Trading Up 0.5 %

Shares of PKI stock opened at $153.72 on Tuesday. The firm has a 50 day moving average price of $144.81 and a two-hundred day moving average price of $159.15. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $19.39 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.12. PerkinElmer has a 12-month low of $130.65 and a 12-month high of $203.16.

PerkinElmer (NYSE:PKIGet Rating) last announced its earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.01 by $0.31. PerkinElmer had a net margin of 13.21% and a return on equity of 16.72%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $2.83 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts predict that PerkinElmer will post 7.83 earnings per share for the current year.

PerkinElmer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be issued a $0.07 dividend. The ex-dividend date is Thursday, October 20th. This represents a $0.28 annualized dividend and a yield of 0.18%. PerkinElmer’s payout ratio is 5.24%.

Insider Activity at PerkinElmer

In related news, insider Andrew Okun sold 3,173 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total value of $524,877.66. Following the transaction, the insider now owns 6,391 shares in the company, valued at $1,057,199.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Andrew Okun sold 3,173 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the transaction, the insider now owns 6,391 shares in the company, valued at $1,057,199.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James M. Mock sold 5,025 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $145.49, for a total transaction of $731,087.25. Following the transaction, the insider now owns 27,577 shares in the company, valued at approximately $4,012,177.73. The disclosure for this sale can be found here. Insiders have sold a total of 13,898 shares of company stock worth $2,083,263 over the last quarter. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On PerkinElmer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in PerkinElmer by 1.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,797 shares of the medical research company’s stock worth $2,294,000 after purchasing an additional 192 shares in the last quarter. Fifth Third Bancorp boosted its stake in PerkinElmer by 81.3% in the fourth quarter. Fifth Third Bancorp now owns 1,916 shares of the medical research company’s stock valued at $385,000 after acquiring an additional 859 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of PerkinElmer by 6.4% during the 4th quarter. Principal Financial Group Inc. now owns 173,521 shares of the medical research company’s stock valued at $34,888,000 after buying an additional 10,465 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of PerkinElmer by 26.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,472 shares of the medical research company’s stock valued at $4,720,000 after buying an additional 4,841 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of PerkinElmer by 2.2% during the 4th quarter. Mackenzie Financial Corp now owns 25,780 shares of the medical research company’s stock valued at $5,183,000 after buying an additional 550 shares in the last quarter. 89.27% of the stock is owned by institutional investors.

PerkinElmer Company Profile

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as contract research and laboratory services.

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