ValuEngine lowered shares of PerkinElmer (NYSE:PKI) from a buy rating to a hold rating in a report released on Friday.

Several other research analysts have also commented on PKI. Piper Jaffray Companies reaffirmed a buy rating and issued a $81.00 price target on shares of PerkinElmer in a report on Friday, August 4th. Citigroup lifted their price objective on shares of PerkinElmer from $67.00 to $74.00 and gave the company a buy rating in a research report on Monday, August 7th. Cowen reiterated a hold rating and issued a $70.00 price objective on shares of PerkinElmer in a research report on Friday, September 1st. Goldman Sachs Group reiterated a neutral rating and issued a $67.00 price objective on shares of PerkinElmer in a research report on Tuesday, September 26th. Finally, Morgan Stanley reiterated an overweight rating and issued a $77.00 price objective (down from $79.00) on shares of PerkinElmer in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $68.64.

PerkinElmer (NYSE:PKI) traded down $0.56 during midday trading on Friday, hitting $73.12. 467,175 shares of the stock traded hands, compared to its average volume of 619,393. PerkinElmer has a 1-year low of $50.51 and a 1-year high of $74.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.09. The firm has a market cap of $8,121.39, a price-to-earnings ratio of 26.50, a PEG ratio of 2.20 and a beta of 0.77.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. PerkinElmer’s dividend payout ratio is currently 7.78%.

In other news, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $73.18, for a total value of $365,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Barrett sold 7,071 shares of PerkinElmer stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $71.07, for a total transaction of $502,535.97. Following the completion of the transaction, the director now directly owns 26,271 shares in the company, valued at $1,867,079.97. The disclosure for this sale can be found here. Insiders sold a total of 36,121 shares of company stock worth $2,569,252 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PKI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in PerkinElmer by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,175 shares of the medical research company’s stock valued at $557,000 after purchasing an additional 31 shares in the last quarter. ING Groep NV grew its position in PerkinElmer by 0.6% during the second quarter. ING Groep NV now owns 6,057 shares of the medical research company’s stock valued at $413,000 after purchasing an additional 38 shares in the last quarter. CIBC Asset Management Inc grew its position in PerkinElmer by 0.4% during the second quarter. CIBC Asset Management Inc now owns 9,549 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 40 shares in the last quarter. LS Investment Advisors LLC lifted its stake in PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 60 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its stake in PerkinElmer by 1.0% in the second quarter. Sentry Investment Management LLC now owns 8,025 shares of the medical research company’s stock valued at $547,000 after acquiring an additional 78 shares during the last quarter. 91.66% of the stock is currently owned by institutional investors and hedge funds.

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About PerkinElmer

PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.

Analyst Recommendations for PerkinElmer (NYSE:PKI)

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