PerkinElmer (NYSE:PKI) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $115.00 price objective on the medical research company’s stock. Goldman Sachs Group’s price target suggests a potential upside of 13.75% from the company’s previous close.

PKI has been the topic of several other reports. Piper Jaffray Companies raised their price objective on PerkinElmer to $104.00 and gave the company an “overweight” rating in a research note on Friday, February 1st. Desjardins reiterated an “average” rating and issued a $45.00 target price on shares of PerkinElmer in a research report on Wednesday, January 16th. Morgan Stanley dropped their target price on PerkinElmer from $100.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, January 3rd. Zacks Investment Research downgraded PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Needham & Company LLC assumed coverage on PerkinElmer in a research report on Wednesday, January 2nd. They issued a “hold” rating and a $79.00 target price for the company. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. PerkinElmer currently has an average rating of “Hold” and a consensus price target of $85.06.

NYSE:PKI opened at $101.10 on Tuesday. The stock has a market capitalization of $11.21 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73. PerkinElmer has a twelve month low of $70.83 and a twelve month high of $103.00.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $756.35 million for the quarter, compared to analyst estimates of $746.15 million. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. During the same period last year, the firm posted $0.97 earnings per share. Equities analysts predict that PerkinElmer will post 4.03 EPS for the current fiscal year.

In other news, insider Prahlad R. Singh sold 3,289 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $102.39, for a total transaction of $336,760.71. Following the completion of the transaction, the insider now directly owns 28,242 shares in the company, valued at $2,891,698.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas A. Lopardo sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. Insiders sold 62,475 shares of company stock valued at $5,910,744 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PKI. Norges Bank bought a new position in shares of PerkinElmer during the fourth quarter worth about $66,531,000. BlackRock Inc. raised its position in shares of PerkinElmer by 7.4% during the fourth quarter. BlackRock Inc. now owns 7,001,732 shares of the medical research company’s stock worth $549,985,000 after acquiring an additional 482,906 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PerkinElmer by 10.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,766,757 shares of the medical research company’s stock worth $295,879,000 after acquiring an additional 353,534 shares during the last quarter. Morgan Stanley raised its position in shares of PerkinElmer by 58.3% during the third quarter. Morgan Stanley now owns 560,904 shares of the medical research company’s stock worth $54,558,000 after acquiring an additional 206,560 shares during the last quarter. Finally, Vanguard Group Inc raised its position in shares of PerkinElmer by 1.7% during the third quarter. Vanguard Group Inc now owns 11,628,380 shares of the medical research company’s stock worth $1,131,092,000 after acquiring an additional 198,673 shares during the last quarter. Institutional investors own 96.39% of the company’s stock.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

Further Reading: Net Income

Analyst Recommendations for PerkinElmer (NYSE:PKI)

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