PerkinElmer (NYSE:PKI) PT Raised to $101.00

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PerkinElmer (NYSE:PKI) had its target price raised by UBS Group from $99.00 to $101.00 in a research note issued to investors on Tuesday, July 30th, BenzingaRatingsTable reports. They currently have a neutral rating on the medical research company’s stock.

Other equities research analysts have also issued reports about the stock. Raymond James initiated coverage on shares of PerkinElmer in a report on Wednesday, July 10th. They issued an outperform rating for the company. Goldman Sachs Group raised shares of PerkinElmer from a neutral rating to a buy rating and set a $115.00 target price for the company in a report on Tuesday, April 9th. Wolfe Research initiated coverage on shares of PerkinElmer in a report on Thursday, May 30th. They set a peer perform rating for the company. Zacks Investment Research raised shares of PerkinElmer from a hold rating to a buy rating and set a $89.00 price objective for the company in a report on Thursday, May 30th. Finally, Wood & Company reaffirmed an average rating and set a $49.00 price objective on shares of PerkinElmer in a report on Friday, July 19th. Eleven equities 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 $78.58.

Shares of PerkinElmer stock opened at $80.66 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.89 and a quick ratio of 1.31. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.44 and a beta of 1.25. The firm’s 50-day moving average is $91.52 and its 200 day moving average is $92.81. PerkinElmer has a 1 year low of $71.83 and a 1 year high of $103.00.

PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $729.10 million. During the same quarter in the prior year, the company posted $0.91 EPS. PerkinElmer’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that PerkinElmer will post 4.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. PerkinElmer’s payout ratio is 7.76%.

A number of hedge funds have recently added to or reduced their stakes in PKI. Norges Bank purchased a new stake in PerkinElmer in the fourth quarter worth $66,531,000. Nuveen Asset Management LLC increased its stake in PerkinElmer by 33,237.6% in the second quarter. Nuveen Asset Management LLC now owns 793,435 shares of the medical research company’s stock worth $76,439,000 after purchasing an additional 791,055 shares during the period. BlackRock Inc. increased its stake in PerkinElmer by 10.8% in the second quarter. BlackRock Inc. now owns 7,400,482 shares of the medical research company’s stock worth $712,962,000 after purchasing an additional 721,797 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of PerkinElmer by 1,019.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 521,309 shares of the medical research company’s stock valued at $50,223,000 after buying an additional 474,741 shares during the period. Finally, Echo Street Capital Management LLC increased its stake in shares of PerkinElmer by 70.6% during the second quarter. Echo Street Capital Management LLC now owns 900,694 shares of the medical research company’s stock valued at $86,773,000 after buying an additional 372,800 shares during the period. Institutional investors and hedge funds own 96.48% 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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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