Zacks Investment Research lowered shares of PerkinElmer Inc. (NYSE:PKI) from a hold rating to a sell rating in a report released on Monday morning.

According to Zacks, “The major concerns for PerkinElmer are- a sluggish European macro-economic environment and restrained spending and challenges in Japan that are likely to hurt top-line growth in the near term. In fact, organic revenues in the Environmental Health business also witnessed a decline in the last reported quarter on a year-over-year basis. Additionally, an increasing exposure to the international markets enhances the risk of foreign exchange volatility impacting the company’s international sales. Meanwhile, estimates are stable the current year before the third quarter of fiscal 2016 earnings release. With an enhanced focus on product innovation and expansion into emerging markets like China, PerkinElmer has considerable potential upsides as well.”

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of PerkinElmer from $52.00 to $55.00 and gave the stock a neutral rating in a research report on Friday, August 5th. Barclays PLC upped their price objective on shares of PerkinElmer from $50.00 to $52.00 and gave the stock an underweight rating in a research report on Friday, August 5th. BTIG Research reiterated a hold rating on shares of PerkinElmer in a research report on Friday, August 5th. Mizuho cut shares of PerkinElmer from a buy rating to a neutral rating and set a $56.00 price objective for the company. in a research report on Friday, August 5th. Finally, Jefferies Group upped their price objective on shares of PerkinElmer from $52.00 to $55.00 and gave the stock a hold rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $54.93.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

Shares of PerkinElmer (NYSE:PKI) traded up 0.83% during trading on Monday, reaching $52.24. 65,603 shares of the company’s stock were exchanged. The stock has a market cap of $5.72 billion, a PE ratio of 24.96 and a beta of 0.85. The stock’s 50 day moving average price is $54.19 and its 200-day moving average price is $53.64. PerkinElmer has a 52-week low of $39.50 and a 52-week high of $57.28.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 14th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.28 dividend on an annualized basis and a yield of 0.54%. PerkinElmer’s dividend payout ratio (DPR) is presently 13.33%.

In other news, insider Daniel R. Tereau sold 18,866 shares of PerkinElmer stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $52.00, for a total value of $981,032.00. Following the completion of the transaction, the insider now owns 21,241 shares in the company, valued at $1,104,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joel S. Goldberg sold 38,095 shares of PerkinElmer stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total transaction of $2,095,225.00. Following the completion of the transaction, the insider now owns 96,299 shares of the company’s stock, valued at approximately $5,296,445. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in PerkinElmer by 0.5% in the second quarter. CIBC Asset Management Inc now owns 10,175 shares of the company’s stock valued at $533,000 after buying an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in PerkinElmer by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 11,424 shares of the company’s stock valued at $641,000 after buying an additional 58 shares during the last quarter. Norinchukin Bank The increased its position in PerkinElmer by 1.5% in the second quarter. Norinchukin Bank The now owns 5,718 shares of the company’s stock valued at $300,000 after buying an additional 83 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in PerkinElmer by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 7,618 shares of the company’s stock valued at $399,000 after buying an additional 99 shares during the last quarter. Finally, Sandy Spring Bank increased its position in PerkinElmer by 0.3% in the second quarter. Sandy Spring Bank now owns 42,444 shares of the company’s stock valued at $2,236,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

PerkinElmer Company Profile

PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.

5 Day Chart for NYSE:PKI

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