PerkinElmer (NYSE:PKI) had its price target trimmed by UBS Group from $101.00 to $92.00 in a report published on Friday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the medical research company’s stock.
PKI has been the subject of several other research reports. Wood & Company reiterated an average rating and set a $49.00 price target on shares of PerkinElmer in a research note on Friday, July 19th. ValuEngine downgraded PerkinElmer from a buy rating to a hold rating in a research note on Wednesday, July 31st. Bank of America upgraded PerkinElmer from a neutral rating to a buy rating and set a $105.00 target price for the company in a research note on Thursday, September 26th. Finally, Raymond James started coverage on PerkinElmer in a research note on Wednesday, July 10th. They set an outperform rating for the company. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $77.88.
PKI opened at $83.10 on Friday. The company has a market cap of $9.22 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. The stock has a 50-day moving average of $84.07 and a 200-day moving average of $89.66. PerkinElmer has a 52-week low of $71.83 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.89.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $729.10 million. PerkinElmer had a return on equity of 16.07% and a net margin of 9.01%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, research analysts predict that PerkinElmer will post 4.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.34%. PerkinElmer’s dividend payout ratio (DPR) is 7.76%.
In other news, Director Alexis P. Michas sold 2,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $82.56, for a total value of $165,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC increased its holdings in PerkinElmer by 39.5% during the 1st quarter. Clearbridge Investments LLC now owns 86,922 shares of the medical research company’s stock valued at $8,376,000 after purchasing an additional 24,599 shares in the last quarter. FMR LLC increased its holdings in PerkinElmer by 0.8% during the 1st quarter. FMR LLC now owns 1,233,993 shares of the medical research company’s stock valued at $118,907,000 after purchasing an additional 10,020 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in PerkinElmer by 1.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 128,822 shares of the medical research company’s stock valued at $12,413,000 after purchasing an additional 1,695 shares in the last quarter. Private Trust Co. NA increased its holdings in PerkinElmer by 9.0% during the 2nd quarter. Private Trust Co. NA now owns 6,123 shares of the medical research company’s stock valued at $589,000 after purchasing an additional 503 shares in the last quarter. Finally, DNB Asset Management AS acquired a new stake in PerkinElmer during the 2nd quarter valued at $1,084,000. 95.20% of the stock is owned by institutional investors and hedge funds.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in 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 laboratory services.
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