PerkinElmer, Inc. (NYSE:PKI) Receives Average Rating of “Buy” from Brokerages

Shares of PerkinElmer, Inc. (NYSE:PKI) have been assigned an average rating of “Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $150.09.

A number of research firms have recently weighed in on PKI. Robert W. Baird reissued an “outperform” rating and issued a $172.11 target price (up previously from $150.00) on shares of PerkinElmer in a research note on Tuesday, July 27th. Wolfe Research upgraded PerkinElmer from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 15th. Evercore ISI restated an “outperform” rating and set a $170.86 price target (down previously from $174.00) on shares of PerkinElmer in a report on Tuesday, July 27th. Finally, Royal Bank of Canada upped their target price on PerkinElmer from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, August 9th.

In other news, insider James M. Mock sold 6,080 shares of the firm’s stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $184.87, for a total transaction of $1,124,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvie Gregoire sold 5,000 shares of the stock in a transaction dated Tuesday, July 6th. The shares were sold at an average price of $155.57, for a total transaction of $777,850.00. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PKI. Price T Rowe Associates Inc. MD lifted its stake in PerkinElmer by 41.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,530,556 shares of the medical research company’s stock worth $1,162,793,000 after purchasing an additional 2,218,099 shares during the last quarter. BlackRock Inc. raised its stake in shares of PerkinElmer by 7.6% during the first quarter. BlackRock Inc. now owns 7,904,659 shares of the medical research company’s stock valued at $1,014,091,000 after acquiring an additional 556,072 shares in the last quarter. Amundi bought a new stake in shares of PerkinElmer during the second quarter valued at approximately $78,474,000. Ceredex Value Advisors LLC raised its stake in shares of PerkinElmer by 31.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,641,949 shares of the medical research company’s stock valued at $253,533,000 after acquiring an additional 390,612 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of PerkinElmer during the first quarter valued at approximately $41,450,000. 92.84% of the stock is owned by institutional investors and hedge funds.

PKI stock traded down $3.26 during mid-day trading on Thursday, hitting $173.29. 16,026 shares of the stock were exchanged, compared to its average volume of 865,833. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.01 and a quick ratio of 1.56. The business has a fifty day moving average price of $181.89 and a 200 day moving average price of $154.98. PerkinElmer has a 12 month low of $119.94 and a 12 month high of $192.00. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.50 and a beta of 1.10.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Sunday, July 25th. The medical research company reported $2.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.43. PerkinElmer had a return on equity of 37.29% and a net margin of 24.35%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, equities analysts forecast that PerkinElmer will post 9.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 22nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 21st. This represents a $0.28 dividend on an annualized basis and a yield of 0.16%. PerkinElmer’s payout ratio is presently 3.37%.

About PerkinElmer

PerkinElmer, Inc engages in the provision of products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment comprises of technologies that help life sciences researchers better understand diseases and develop treatments.

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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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