Wolfe Research initiated coverage on shares of PerkinElmer (NYSE:PKI) in a research report released on Thursday morning, Briefing.com Automated Import reports. The brokerage issued a peer perform rating on the medical research company’s stock.

Other research analysts have also issued reports about the stock. Goldman Sachs Group raised shares of PerkinElmer from a neutral rating to a buy rating and set a $115.00 price objective on the stock in a research note on Tuesday, April 9th. Zacks Investment Research raised shares of PerkinElmer from a hold rating to a buy rating and set a $109.00 price objective on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada reaffirmed a hold rating and issued a $41.00 price objective on shares of PerkinElmer in a research note on Friday, May 3rd. UBS Group set a $92.00 price objective on shares of PerkinElmer and gave the company a hold rating in a research note on Saturday, February 2nd. Finally, Piper Jaffray Companies raised their price objective on shares of PerkinElmer to $104.00 and gave the company an overweight rating in a research note on Friday, February 1st. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $81.32.

PerkinElmer stock opened at $86.34 on Thursday. PerkinElmer has a 1-year low of $71.31 and a 1-year high of $103.00. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.68.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. PerkinElmer had a net margin of 8.89% and a return on equity of 15.98%. The firm had revenue of $648.70 million for the quarter, compared to analyst estimates of $645.38 million. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts predict that PerkinElmer will post 4.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.32%. PerkinElmer’s dividend payout ratio is currently 7.76%.

In other news, insider Joel S. Goldberg sold 24,465 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $92.81, for a total value of $2,270,596.65. Following the completion of the sale, the insider now owns 84,277 shares in the company, valued at $7,821,748.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 1,200 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $93.27, for a total transaction of $111,924.00. Following the completion of the sale, the insider now owns 5,839 shares of the company’s stock, valued at approximately $544,603.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,156 shares of company stock valued at $5,041,217. 1.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC purchased a new stake in PerkinElmer during the first quarter worth about $25,000. Lindbrook Capital LLC purchased a new stake in PerkinElmer during the fourth quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in PerkinElmer by 237.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 381 shares of the medical research company’s stock worth $37,000 after buying an additional 268 shares during the last quarter. Citizens Financial Group Inc RI purchased a new stake in PerkinElmer during the fourth quarter worth about $32,000. Finally, Golden State Wealth Management LLC purchased a new stake in PerkinElmer during the first quarter worth about $42,000. Institutional investors own 95.49% 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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