PerkinElmer (NYSE:PKI) had its price objective reduced by equities research analysts at Barclays from $100.00 to $94.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 20.31% from the company’s previous close.
Several other equities research analysts have also commented on PKI. UBS Group upped their price target on shares of PerkinElmer from $92.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Co started coverage on shares of PerkinElmer in a report on Tuesday, January 7th. They issued an “equal weight” rating and a $105.00 price target on the stock. Needham & Company LLC started coverage on shares of PerkinElmer in a report on Friday, January 3rd. They issued a “hold” rating and a $79.00 price target on the stock. Evercore ISI raised shares of PerkinElmer from an “in-line” rating to an “outperform” rating and upped their price target for the company from $89.00 to $114.00 in a report on Thursday, January 2nd. Finally, Citigroup lowered their price target on shares of PerkinElmer from $100.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.93.
NYSE:PKI traded up $3.13 during mid-day trading on Thursday, hitting $78.13. The company’s stock had a trading volume of 48,616 shares, compared to its average volume of 1,083,118. PerkinElmer has a 1 year low of $62.91 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.80 and a quick ratio of 1.33. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 1.64 and a beta of 1.33. The business’s fifty day moving average is $84.33 and its two-hundred day moving average is $89.37.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Monday, January 27th. The medical research company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. PerkinElmer had a net margin of 7.89% and a return on equity of 16.80%. The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $801.14 million. During the same period in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts anticipate that PerkinElmer will post 4.53 EPS for the current fiscal year.
In other news, Director Alexis P. Michas sold 1,777 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $96.23, for a total transaction of $171,000.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors raised its position in shares of PerkinElmer by 13.2% during the 4th quarter. Capital Research Global Investors now owns 11,855,242 shares of the medical research company’s stock worth $1,151,144,000 after purchasing an additional 1,379,053 shares during the last quarter. Select Equity Group L.P. raised its holdings in PerkinElmer by 3.0% in the 3rd quarter. Select Equity Group L.P. now owns 7,148,794 shares of the medical research company’s stock valued at $608,863,000 after acquiring an additional 205,849 shares during the last quarter. Janus Henderson Group PLC raised its holdings in PerkinElmer by 5.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,535,183 shares of the medical research company’s stock valued at $634,566,000 after acquiring an additional 337,204 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PerkinElmer by 11.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,955,771 shares of the medical research company’s stock valued at $481,206,000 after acquiring an additional 498,039 shares during the last quarter. Finally, State Street Corp raised its holdings in PerkinElmer by 2.2% in the 4th quarter. State Street Corp now owns 4,430,398 shares of the medical research company’s stock valued at $430,192,000 after acquiring an additional 96,068 shares during the last quarter. 96.84% of the stock is currently owned by institutional investors and hedge funds.
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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