Morgan Stanley Raises PerkinElmer, Inc. (PKI) Price Target to $78.00

PerkinElmer, Inc. (NYSE:PKI) had its target price upped by analysts at Morgan Stanley from $77.00 to $78.00 in a research report issued to clients and investors on Friday, November 3rd. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 6.79% from the company’s previous close.

PKI has been the subject of several other reports. BidaskClub lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a report on Friday, August 4th. Robert W. Baird lifted their target price on shares of PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Tuesday, August 1st. Finally, Citigroup Inc. lifted their target price on shares of PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.64.

PerkinElmer (NYSE PKI) traded down $0.22 during trading on Friday, reaching $73.04. The company’s stock had a trading volume of 325,754 shares, compared to its average volume of 634,127. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 2.59. The company has a market cap of $8,070.00, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.06 and a beta of 0.77. PerkinElmer has a fifty-two week low of $50.09 and a fifty-two week high of $73.43.

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In related news, Director Nicholas A. Lopardo sold 24,050 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total value of $1,700,816.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Barrett sold 7,071 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,867,079.97. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in PerkinElmer by 4.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,515 shares of the medical research company’s stock worth $3,415,000 after buying an additional 2,098 shares during the period. GSA Capital Partners LLP purchased a new stake in PerkinElmer in the 3rd quarter worth $297,000. Neuberger Berman Group LLC lifted its stake in PerkinElmer by 3.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 53,664 shares of the medical research company’s stock worth $3,701,000 after purchasing an additional 1,634 shares in the last quarter. California Public Employees Retirement System lifted its stake in PerkinElmer by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 280,665 shares of the medical research company’s stock worth $19,357,000 after purchasing an additional 5,165 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its stake in PerkinElmer by 1.4% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 96,127 shares of the medical research company’s stock worth $6,630,000 after purchasing an additional 1,329 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

PerkinElmer Company Profile

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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