PerkinElmer (NYSE:PKI) had its target price dropped by research analysts at UBS Group from $101.00 to $92.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the medical research company’s stock. UBS Group’s target price suggests a potential upside of 10.71% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Raymond James assumed coverage on shares of PerkinElmer in a research report on Wednesday, July 10th. They set an “outperform” rating for the company. Wood & Company restated an “average” rating and issued a $49.00 price objective on shares of PerkinElmer in a report on Friday, July 19th. Finally, Bank of America upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.88.

PerkinElmer stock traded up $0.08 during mid-day trading on Friday, hitting $83.10. 377,148 shares of the company traded hands, compared to its average volume of 753,766. PerkinElmer has a one year low of $71.83 and a one year high of $103.00. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.89. The stock has a fifty day moving average price of $84.07 and a 200-day moving average price of $89.66.

PerkinElmer (NYSE:PKI) last announced its earnings results on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $729.10 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that PerkinElmer will post 4.04 EPS for the current year.

In other news, Director Alexis P. Michas sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $82.56, for a total value of $165,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Retirement Systems of Alabama raised its holdings 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 buying an additional 134 shares during the last quarter. Securian Asset Management Inc raised its holdings in PerkinElmer by 1.2% during the 2nd quarter. Securian Asset Management Inc now owns 11,504 shares of the medical research company’s stock valued at $1,108,000 after buying an additional 141 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in PerkinElmer by 3.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,840 shares of the medical research company’s stock valued at $370,000 after buying an additional 144 shares during the last quarter. Simmons Bank raised its holdings in PerkinElmer by 3.6% during the 2nd quarter. Simmons Bank now owns 4,370 shares of the medical research company’s stock valued at $421,000 after buying an additional 150 shares during the last quarter. Finally, Berman Capital Advisors LLC raised its holdings in PerkinElmer by 4.4% during the 2nd quarter. Berman Capital Advisors LLC now owns 3,641 shares of the medical research company’s stock valued at $350,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

PerkinElmer Company Profile

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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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