PerkinElmer’s (PKI) “Average” Rating Reaffirmed at Raymond James

Raymond James restated their average rating on shares of PerkinElmer (NYSE:PKI) in a research note issued to investors on Tuesday morning, AnalystRatings.com reports. Raymond James currently has a $51.00 target price on the medical research company’s stock.

Several other equities research analysts have also issued reports on the stock. Bank of America upgraded shares of PerkinElmer from a neutral rating to a buy rating and set a $105.00 target price for the company in a report on Thursday, September 26th. Piper Jaffray Companies lowered shares of PerkinElmer from an overweight rating to a neutral rating and lowered their target price for the stock from $104.00 to $89.00 in a report on Thursday, October 31st. Needham & Company LLC restated a hold rating on shares of PerkinElmer in a report on Thursday, October 31st. UBS Group lowered their target price on shares of PerkinElmer from $101.00 to $92.00 and set a neutral rating for the company in a report on Friday, October 18th. Finally, Wood & Company restated an average rating and issued a $49.00 target price on shares of PerkinElmer in a report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $71.70.

Shares of PerkinElmer stock traded up $0.19 during trading on Tuesday, hitting $87.30. The stock had a trading volume of 420,062 shares, compared to its average volume of 721,860. The firm’s fifty day simple moving average is $84.80 and its 200-day simple moving average is $88.41. The stock has a market cap of $9.67 billion, a PE ratio of 24.18, a PEG ratio of 1.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.30 and a quick ratio of 0.97. PerkinElmer has a 12 month low of $71.83 and a 12 month high of $103.00.

PerkinElmer (NYSE:PKI) last released its earnings results on Wednesday, October 30th. The medical research company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The firm had revenue of $706.92 million during the quarter, compared to analyst estimates of $722.69 million. PerkinElmer had a net margin of 8.27% and a return on equity of 16.45%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. Analysts expect that PerkinElmer will post 4.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. PerkinElmer’s payout ratio is 7.76%.

In related news, Director Alexis P. Michas sold 2,000 shares of PerkinElmer stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $82.56, for a total transaction of $165,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PKI. Amundi Pioneer Asset Management Inc. lifted 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 buying an additional 1,695 shares in the last quarter. Private Trust Co. NA increased its position 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 during the period. DNB Asset Management AS purchased a new position in PerkinElmer during the 2nd quarter valued at about $1,084,000. Retirement Systems of Alabama increased its position in PerkinElmer by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 51,726 shares of the medical research company’s stock valued at $4,983,000 after purchasing an additional 134 shares during the period. Finally, Gulf International Bank UK Ltd purchased a new position in PerkinElmer during the 2nd quarter valued at about $2,750,000. Institutional investors own 95.44% of the company’s stock.

About PerkinElmer

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.

See Also: Bull Market

Analyst Recommendations for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.