CIBC reiterated their average rating on shares of PerkinElmer (NYSE:PKI) in a report published on Thursday morning. CIBC currently has a $44.50 price objective on the medical research company’s stock.
A number of other analysts have also weighed in on the company. UBS Group started coverage on PerkinElmer in a research note on Tuesday, October 9th. They set a neutral rating and a $100.00 price objective for the company. Morgan Stanley dropped their price objective on PerkinElmer from $100.00 to $86.00 and set an overweight rating for the company in a research note on Thursday, January 3rd. Needham & Company LLC started coverage on PerkinElmer in a research note on Wednesday, January 2nd. They set a hold rating and a $79.00 price objective for the company. Janney Montgomery Scott lowered PerkinElmer from a buy rating to a neutral rating in a research note on Friday, November 2nd. Finally, Cowen reissued a hold rating and set a $85.00 price objective on shares of PerkinElmer in a research note on Sunday, January 6th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $82.90.
NYSE PKI traded up $0.95 on Thursday, reaching $83.51. 927,700 shares of the company’s stock traded hands, compared to its average volume of 663,813. PerkinElmer has a 12 month low of $70.74 and a 12 month high of $98.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18. The stock has a market capitalization of $8.99 billion, a P/E ratio of 28.80, a PEG ratio of 1.64 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 17th. PerkinElmer’s payout ratio is 9.66%.
In related news, Director Nicholas A. Lopardo sold 2,000 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $87.08, for a total value of $174,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $1,609,550 in the last ninety days. 2.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in PerkinElmer during the third quarter valued at $107,000. Tower Research Capital LLC TRC lifted its position in PerkinElmer by 69.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,972 shares of the medical research company’s stock valued at $191,000 after buying an additional 806 shares during the period. Ibex Investors LLC purchased a new position in PerkinElmer during the third quarter valued at $206,000. Conning Inc. purchased a new position in PerkinElmer during the third quarter valued at $212,000. Finally, Sapphire Star Partners LP purchased a new position in PerkinElmer during the third quarter valued at $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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