PerkinElmer Inc. (PKI) Receives $54.33 Consensus Price Target from Analysts
Shares of PerkinElmer Inc. (NYSE:PKI) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $54.33.
Several research analysts have recently weighed in on PKI shares. Jefferies Group boosted their price target on PerkinElmer from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Barclays PLC boosted their price target on PerkinElmer from $50.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, August 5th. Morgan Stanley set a $61.00 price target on PerkinElmer and gave the stock a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on PerkinElmer from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th.
PerkinElmer (NYSE:PKI) opened at 50.90 on Wednesday. The company has a market cap of $5.57 billion, a P/E ratio of 24.32 and a beta of 0.94. The firm has a 50-day moving average price of $53.00 and a 200-day moving average price of $53.71. PerkinElmer has a 52 week low of $39.50 and a 52 week high of $57.28.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The business earned $548 million during the quarter, compared to analysts’ expectations of $572.03 million. PerkinElmer had a return on equity of 14.55% and a net margin of 10.48%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Equities research analysts anticipate that PerkinElmer will post $2.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 20th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is 13.02%.
In other news, insider Daniel R. Tereau sold 18,866 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was 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 of the company’s stock, valued at $1,104,532. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 38,095 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total value of $2,095,225.00. Following the completion of the transaction, the insider now directly owns 96,299 shares of the company’s stock, valued at approximately $5,296,445. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new position in PerkinElmer during the second quarter worth $121,000. Acrospire Investment Management LLC raised its position in PerkinElmer by 37.5% in the third quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the period. Citizens Financial Group Inc RI acquired a new position in PerkinElmer during the first quarter worth $124,000. Toronto Dominion Bank acquired a new position in PerkinElmer during the third quarter worth $126,000. Finally, Nordea Investment Management AB raised its position in PerkinElmer by 58.7% in the third quarter. Nordea Investment Management AB now owns 2,429 shares of the company’s stock worth $136,000 after buying an additional 898 shares during the period. 90.17% of the stock is owned by hedge funds and other institutional investors.
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.
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