Barclays Lowers PerkinElmer (NYSE:PKI) Price Target to $94.00

PerkinElmer (NYSE:PKI) had its price target decreased by investment analysts at Barclays from $100.00 to $94.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective indicates a potential upside of 20.31% from the stock’s previous close.

PKI has been the topic of a number of other reports. Evercore ISI raised PerkinElmer from an “in-line” rating to an “outperform” rating and raised their price target for the company from $89.00 to $114.00 in a report on Thursday, January 2nd. UBS Group raised their price target on PerkinElmer from $92.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Co started coverage on PerkinElmer in a report on Tuesday, January 7th. They set an “equal weight” rating and a $105.00 price target on the stock. Needham & Company LLC started coverage on PerkinElmer in a report on Friday, January 3rd. They set a “hold” rating and a $79.00 price target on the stock. Finally, Citigroup decreased their price target on PerkinElmer from $100.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.93.

PerkinElmer stock traded up $3.13 during trading on Thursday, reaching $78.13. The company had a trading volume of 48,616 shares, compared to its average volume of 1,083,118. PerkinElmer has a 52 week low of $62.91 and a 52 week high of $103.00. The firm’s 50-day simple moving average is $84.33 and its 200 day simple moving average is $89.37. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The company has a current ratio of 1.80, a quick ratio of 1.33 and a debt-to-equity ratio of 0.79.

PerkinElmer (NYSE:PKI) last announced its earnings results on Monday, January 27th. The medical research company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $801.14 million. PerkinElmer had a return on equity of 16.80% and a net margin of 7.89%. PerkinElmer’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. On average, analysts predict that PerkinElmer will post 4.53 earnings per share for the current year.

In related news, Director Alexis P. Michas sold 1,777 shares of PerkinElmer stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $96.23, for a total value of $171,000.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in shares of PerkinElmer by 75.0% during the fourth quarter. NEXT Financial Group Inc now owns 350 shares of the medical research company’s stock valued at $34,000 after buying an additional 150 shares during the period. Institute for Wealth Management LLC. purchased a new stake in shares of PerkinElmer in the fourth quarter valued at approximately $61,000. CSat Investment Advisory L.P. boosted its holdings in shares of PerkinElmer by 165.3% in the fourth quarter. CSat Investment Advisory L.P. now owns 687 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 428 shares during the period. Resources Management Corp CT ADV purchased a new stake in shares of PerkinElmer in the third quarter valued at approximately $69,000. Finally, CFM Wealth Partners LLC purchased a new stake in shares of PerkinElmer in the fourth quarter valued at approximately $74,000. Institutional investors own 96.84% of the company’s stock.

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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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