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.
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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