PerkinElmer, Inc. (NYSE:PKI) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $68.00.
A number of equities analysts have recently issued reports on PKI shares. BidaskClub downgraded PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Evercore ISI restated an “in-line” rating and issued a $68.00 price target (up from $62.50) on shares of PerkinElmer in a research note on Thursday, June 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $81.00 price target on shares of PerkinElmer in a research note on Friday, August 4th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, August 1st. Finally, Citigroup Inc. raised their price target on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 7th.
Shares of PerkinElmer (NYSE:PKI) opened at 70.61 on Friday. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $70.61. The firm has a 50 day moving average price of $67.73 and a 200 day moving average price of $64.36. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 21.29 and a beta of 0.72.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.67. The firm had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Equities analysts forecast that PerkinElmer will post $2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. PerkinElmer’s dividend payout ratio is currently 8.46%.
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A number of institutional investors have recently made changes to their positions in PKI. Janus Henderson Group PLC bought a new position in PerkinElmer in the 2nd quarter worth $436,483,000. BlackRock Inc. raised its holdings in PerkinElmer by 4,652.8% in the 1st quarter. BlackRock Inc. now owns 5,787,627 shares of the medical research company’s stock worth $336,029,000 after purchasing an additional 5,665,854 shares during the period. Koch Industries Inc. bought a new position in PerkinElmer in the 2nd quarter worth $364,000. Delta Lloyd Asset Management N.V. bought a new position in PerkinElmer in the 2nd quarter worth $19,315,000. Finally, Vanguard Group Inc. raised its holdings in PerkinElmer by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock worth $741,816,000 after purchasing an additional 273,975 shares during the period. 91.47% of the stock is currently 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.
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