PerkinElmer (NYSE:PKI) Given New $105.00 Price Target at JPMorgan Chase & Co.

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PerkinElmer (NYSE:PKI) had its price target lifted by JPMorgan Chase & Co. from $85.00 to $105.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the medical research company’s stock.

Several other equities research analysts also recently weighed in on PKI. Zacks Investment Research raised shares of PerkinElmer from a sell rating to a hold rating and set a $105.00 target price on the stock in a research note on Thursday, May 28th. Citigroup lifted their target price on PerkinElmer from $70.00 to $85.00 and gave the company a neutral rating in a report on Monday, April 20th. Stifel Nicolaus lifted their price target on shares of PerkinElmer from $95.00 to $125.00 and gave the stock a buy rating in a research note on Wednesday. Cfra upgraded shares of PerkinElmer from a hold rating to a buy rating in a report on Wednesday. Finally, Robert W. Baird boosted their target price on shares of PerkinElmer from $94.00 to $99.00 and gave the stock an outperform rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $95.13.

Shares of NYSE PKI opened at $118.91 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.30 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $13.24 billion, a PE ratio of 45.21, a PEG ratio of 1.42 and a beta of 1.37. PerkinElmer has a twelve month low of $62.91 and a twelve month high of $121.44. The stock has a fifty day simple moving average of $102.67 and a 200-day simple moving average of $92.32.

PerkinElmer (NYSE:PKI) last released its earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.87. The company had revenue of $811.91 million during the quarter, compared to the consensus estimate of $703.32 million. PerkinElmer had a return on equity of 18.41% and a net margin of 9.87%. PerkinElmer’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. On average, equities analysts predict that PerkinElmer will post 4.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, October 15th. PerkinElmer’s dividend payout ratio (DPR) is currently 6.83%.

In related news, insider Daniel R. Tereau sold 5,452 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $95.22, for a total value of $519,139.44. Also, Director Peter Barrett sold 7,552 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $100.11, for a total value of $756,030.72. Following the sale, the director now directly owns 29,552 shares of the company’s stock, valued at $2,958,450.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,703 shares of company stock valued at $2,079,050. Insiders own 0.62% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC acquired a new position in PerkinElmer during the 4th quarter worth approximately $211,000. DNB Asset Management AS raised its position in PerkinElmer by 8.4% in the second quarter. DNB Asset Management AS now owns 13,861 shares of the medical research company’s stock worth $1,360,000 after acquiring an additional 1,071 shares in the last quarter. APG Asset Management N.V. lifted its holdings in PerkinElmer by 59.8% in the first quarter. APG Asset Management N.V. now owns 144,148 shares of the medical research company’s stock valued at $10,851,000 after acquiring an additional 53,918 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of PerkinElmer by 6.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 8,000 shares of the medical research company’s stock worth $602,000 after purchasing an additional 500 shares in the last quarter. Finally, Rockland Trust Co. acquired a new position in shares of PerkinElmer during the 2nd quarter worth $225,000. 93.34% of the stock is currently owned by institutional investors and hedge funds.

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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