PerkinElmer, Inc. (PKI) Earns “Hold” Rating from Cowen and Company
PerkinElmer, Inc. (NYSE:PKI)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a research report issued on Friday. They presently have a $70.00 price objective on the medical research company’s stock. Cowen and Company’s price objective would suggest a potential upside of 4.49% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC reissued a “hold” rating and set a $69.00 price objective (up previously from $58.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Cantor Fitzgerald reissued a “hold” rating and set a $65.00 price objective on shares of PerkinElmer in a report on Monday, May 15th. Barclays PLC set a $55.00 price objective on shares of PerkinElmer and gave the stock a “sell” rating in a report on Saturday, May 6th. BidaskClub lowered shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.00.
Shares of PerkinElmer (NYSE:PKI) opened at 66.99 on Friday. The firm’s 50 day moving average is $66.15 and its 200-day moving average is $61.97. PerkinElmer has a 52-week low of $45.35 and a 52-week high of $70.16. The company has a market capitalization of $7.38 billion, a P/E ratio of 20.20 and a beta of 0.75.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547 million for the quarter, compared to analyst estimates of $554.14 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that PerkinElmer will post $2.89 earnings per share for the current fiscal year.
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In related news, insider Andrew Okun sold 4,358 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the sale, the insider now directly owns 16,799 shares in the company, valued at approximately $1,091,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in PKI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of PerkinElmer by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,175 shares of the medical research company’s stock valued at $557,000 after buying an additional 31 shares during the period. ING Groep NV increased its stake in shares of PerkinElmer by 0.6% in the second quarter. ING Groep NV now owns 6,057 shares of the medical research company’s stock valued at $413,000 after buying an additional 38 shares during the period. CIBC Asset Management Inc increased its stake in shares of PerkinElmer by 0.4% in the second quarter. CIBC Asset Management Inc now owns 9,549 shares of the medical research company’s stock valued at $651,000 after buying an additional 40 shares during the period. LS Investment Advisors LLC increased its stake in shares of PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after buying an additional 60 shares during the period. Finally, Tributary Capital Management LLC increased its stake in shares of PerkinElmer by 0.3% in the second quarter. Tributary Capital Management LLC now owns 22,300 shares of the medical research company’s stock valued at $1,520,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.
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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