CIBC reiterated their average rating on shares of PerkinElmer (NYSE:PKI) in a research report sent to investors on Thursday morning. CIBC currently has a $44.50 price target on the medical research company’s stock.

A number of other research firms also recently weighed in on PKI. Morgan Stanley decreased their price target on PerkinElmer from $100.00 to $86.00 and set an overweight rating on the stock in a research note on Thursday, January 3rd. UBS Group started coverage on PerkinElmer in a research note on Tuesday, October 9th. They issued a neutral rating and a $100.00 price target on the stock. Cowen restated a hold rating and issued a $85.00 price target on shares of PerkinElmer in a research note on Sunday, January 6th. Janney Montgomery Scott downgraded PerkinElmer from a buy rating to a neutral rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research downgraded PerkinElmer from a buy rating to a hold rating in a research note on Friday, January 4th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $82.90.

Shares of PKI stock opened at $83.51 on Thursday. PerkinElmer has a twelve month low of $70.74 and a twelve month high of $98.33. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 1.64 and a beta of 1.11. The company has a current ratio of 1.70, a quick ratio of 1.18 and a debt-to-equity ratio of 0.73.

PerkinElmer (NYSE:PKI) last announced its earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. The company had revenue of $674.30 million during the quarter, compared to analysts’ expectations of $676.72 million. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, equities analysts expect that PerkinElmer will post 3.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.34%. PerkinElmer’s dividend payout ratio is presently 9.66%.

In other news, Director Patrick J. Sullivan sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total value of $816,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas A. Lopardo sold 2,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $82.12, for a total value of $164,240.00. Following the completion of the transaction, the director now directly owns 1,661 shares of the company’s stock, valued at $136,401.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock valued at $1,609,550. 2.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of PerkinElmer in the third quarter worth $107,000. Tower Research Capital LLC TRC raised its holdings in shares of PerkinElmer by 69.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,972 shares of the medical research company’s stock worth $191,000 after acquiring an additional 806 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of PerkinElmer in the third quarter worth $206,000. Conning Inc. acquired a new position in PerkinElmer in the third quarter valued at $212,000. Finally, Sapphire Star Partners LP acquired a new position in PerkinElmer in the third quarter valued at $221,000. 94.83% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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