PerkinElmer Inc. (NYSE:PKI)‘s stock had its “sell” rating reissued by research analysts at Barclays PLC in a research report issued on Tuesday. They presently have a $50.00 price target on the stock. Barclays PLC’s target price suggests a potential downside of 1.56% from the company’s current price.

PKI has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of PerkinElmer from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Morgan Stanley set a $61.00 price objective on shares of PerkinElmer and gave the company a “buy” rating in a research report on Friday, August 5th. BTIG Research started coverage on shares of PerkinElmer in a research report on Friday, July 22nd. They set a “neutral” rating for the company. Jefferies Group lifted their price target on shares of PerkinElmer from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Mizuho downgraded shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. PerkinElmer presently has an average rating of “Hold” and a consensus price target of $54.92.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

Shares of PerkinElmer (NYSE:PKI) opened at 50.79 on Tuesday. The stock has a 50 day moving average price of $53.21 and a 200-day moving average price of $53.73. PerkinElmer has a 52-week low of $39.50 and a 52-week high of $57.28. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 24.27 and a beta of 0.94.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The firm earned $548 million during the quarter, compared to the consensus estimate of $572.03 million. PerkinElmer had a net margin of 10.48% and a return on equity of 14.64%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, equities research analysts predict that PerkinElmer will post $2.80 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 20th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, January 18th. This represents a $0.28 annualized dividend and a yield of 0.55%. PerkinElmer’s payout ratio is currently 13.02%.

In other news, Director Patrick J. Sullivan sold 8,308 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $54.74, for a total transaction of $454,779.92. Following the completion of the sale, the director now directly owns 41,829 shares of the company’s stock, valued at approximately $2,289,719.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel R. Tereau sold 18,866 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $52.00, for a total transaction of $981,032.00. Following the sale, the insider now directly owns 21,241 shares of the company’s stock, valued at $1,104,532. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in PKI. Vanguard Group Inc. raised its position in PerkinElmer by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,959,777 shares of the company’s stock valued at $522,092,000 after buying an additional 494,551 shares during the last quarter. Janus Capital Management LLC raised its position in PerkinElmer by 0.9% in the second quarter. Janus Capital Management LLC now owns 5,721,157 shares of the company’s stock valued at $299,903,000 after buying an additional 52,490 shares during the last quarter. Victory Capital Management Inc. raised its position in PerkinElmer by 11.5% in the third quarter. Victory Capital Management Inc. now owns 3,425,679 shares of the company’s stock valued at $192,215,000 after buying an additional 351,986 shares during the last quarter. Pictet Asset Management Ltd. raised its position in PerkinElmer by 2.6% in the second quarter. Pictet Asset Management Ltd. now owns 3,072,854 shares of the company’s stock valued at $168,238,000 after buying an additional 78,293 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in PerkinElmer by 2.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,731,357 shares of the company’s stock valued at $143,179,000 after buying an additional 75,887 shares during the last quarter. 90.17% of the stock is owned by institutional investors.

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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