Cfra upgraded shares of PerkinElmer (NYSE:PKI) from a hold rating to a buy rating in a research report report published on Wednesday, Briefing.com Automated Import reports.
Several other analysts have also commented on PKI. Citigroup raised their price objective on shares of PerkinElmer from $70.00 to $85.00 and gave the stock a neutral rating in a report on Monday, April 20th. Needham & Company LLC assumed coverage on shares of PerkinElmer in a report on Monday, July 13th. They issued a hold rating for the company. JPMorgan Chase & Co. raised their price objective on shares of PerkinElmer from $80.00 to $85.00 and gave the stock a neutral rating in a report on Wednesday, May 6th. Stifel Nicolaus lowered their price objective on shares of PerkinElmer from $102.00 to $80.00 and set a buy rating for the company in a report on Thursday, April 2nd. Finally, Robert W. Baird raised their price objective on shares of PerkinElmer from $94.00 to $99.00 and gave the stock an outperform rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $95.13.
NYSE PKI opened at $118.91 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.30. 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 1 year low of $62.91 and a 1 year high of $121.44. The business’s 50-day moving average is $102.67 and its 200 day moving average is $92.32.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. PerkinElmer’s payout ratio is 6.83%.
In related news, insider Daniel R. Tereau sold 5,452 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $95.22, for a total value of $519,139.44. Also, insider Andrew Okun sold 6,699 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total transaction of $803,880.00. Following the completion of the transaction, the insider now owns 17,009 shares of the company’s stock, valued at $2,041,080. The disclosure for this sale can be found here. Insiders have sold 19,703 shares of company stock valued at $2,079,050 over the last quarter. Company insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Company LLC purchased a new position in PerkinElmer in the 1st quarter worth approximately $26,000. Ceredex Value Advisors LLC purchased a new position in PerkinElmer in the 1st quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in PerkinElmer in the 2nd quarter worth approximately $39,000. Parallel Advisors LLC raised its holdings in PerkinElmer by 128.4% in the 2nd quarter. Parallel Advisors LLC now owns 475 shares of the medical research company’s stock worth $46,000 after acquiring an additional 267 shares during the last quarter. Finally, Bartlett & Co. LLC purchased a new position in PerkinElmer in the 1st quarter worth approximately $37,000. Institutional investors own 93.34% 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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