Several analysts have recently updated their ratings and price targets for PerkinElmer (NYSE: PKI):

  • 8/7/2017 – PerkinElmer had its price target raised by analysts at Citigroup Inc. from $67.00 to $74.00. They now have a “buy” rating on the stock.
  • 8/4/2017 – PerkinElmer had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $81.00 price target on the stock.
  • 8/1/2017 – PerkinElmer was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $74.00 price target on the stock. According to Zacks, “PerkinElmer holds ground on a strong global foothold, courtesy of its impending acquisition of Germany-based EUROIMMUN and takeover of India-based Tulip Diagnostics. The company continues to offer a global diagnostics portfolio focused on reproductive health, infectious disease screening and genomics offerings for oncology and other molecular tests. With an enhanced focus on product innovation and expansion into emerging markets, PerkinElmer has considerable potential upside. PerkinElmer delivered a solid first quarter, beating the Zacks Consensus Estimate on both the counts. The quarter witnessed solid organic revenue growth across all the business segments. Furthermore, a positive guidance instills our confidence on the stock. On the flipside, despite having a solid portfolio, unfavorable foreign exchange is a primary concern for PerkinElmer. Furthermore, PerkinElmer’s share price movement in the past one year has been unsatisfactory.”
  • 7/31/2017 – PerkinElmer was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PerkinElmer holds ground on a strong global foothold, courtesy of its impending acquisition of Germany-based EUROIMMUN and takeover of India-based Tulip Diagnostics. The company continues to offer a global diagnostics portfolio focused on reproductive health, infectious disease screening and genomics offerings for oncology and other molecular tests. With an enhanced focus on product innovation and expansion into emerging markets, PerkinElmer has considerable potential upside. PerkinElmer delivered a solid first quarter, beating the Zacks Consensus Estimate on both the counts. The quarter witnessed solid organic revenue growth across all the business segments. Furthermore, a positive guidance instills our confidence on the stock. On the flipside, despite having a solid portfolio, unfavorable foreign exchange is a primary concern for PerkinElmer. Furthermore, PerkinElmer’s share price movement in the past one year has been unsatisfactory.”
  • 7/28/2017 – PerkinElmer was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/25/2017 – PerkinElmer had its price target raised by analysts at Piper Jaffray Companies to $80.00. They now have an “overweight” rating on the stock.
  • 7/19/2017 – PerkinElmer was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. According to Zacks, “PerkinElmer holds ground on a strong global foothold, courtesy of its impending acquisition of Germany-based EUROIMMUN and takeover of India-based Tulip Diagnostics. The company continues to offer a global diagnostics portfolio focused on reproductive health, infectious disease screening and genomics offerings for oncology and other molecular tests. With an enhanced focus on product innovation and expansion into emerging markets, PerkinElmer has considerable potential upside. PerkinElmer delivered a solid first quarter, beating the Zacks Consensus Estimate on both the counts. The quarter witnessed solid organic revenue growth across all the business segments. Furthermore, a positive guidance instills our confidence on the stock. On the flipside, despite having a solid portfolio, unfavorable foreign exchange is a primary concern for PerkinElmer. Furthermore, PerkinElmer’s share price movement in the past one year has been unsatisfactory.”
  • 7/16/2017 – PerkinElmer had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald.
  • 7/13/2017 – PerkinElmer is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $72.00 price target on the stock.
  • 7/10/2017 – PerkinElmer had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $79.00 price target on the stock, up previously from $73.00.
  • 6/22/2017 – PerkinElmer had its “in-line” rating reaffirmed by analysts at Evercore ISI. They now have a $68.00 price target on the stock, up previously from $62.50.
  • 6/21/2017 – PerkinElmer had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald.
  • 6/20/2017 – PerkinElmer had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $70.00 price target on the stock, up previously from $61.00.
  • 6/20/2017 – PerkinElmer had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $69.00 price target on the stock, up previously from $58.00.
  • 6/19/2017 – PerkinElmer was given a new $65.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 6/14/2017 – PerkinElmer was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

PerkinElmer, Inc. (NYSE:PKI) traded down 2.02% on Thursday, hitting $62.95. 638,934 shares of the company traded hands. The stock has a market cap of $6.97 billion, a PE ratio of 18.98 and a beta of 0.75. PerkinElmer, Inc. has a 12 month low of $45.35 and a 12 month high of $70.16. The stock’s 50-day moving average is $67.63 and its 200 day moving average is $60.64.

PerkinElmer (NYSE:PKI) last released 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. The firm had revenue of $547 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Equities research analysts expect that PerkinElmer, Inc. will post $2.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s dividend payout ratio is currently 8.46%.

In related news, Director Peter Barrett sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $63.22, for a total transaction of $632,200.00. Following the sale, the director now owns 29,200 shares of the company’s stock, valued at $1,846,024. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Okun sold 4,358 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 20,986 shares of company stock worth $1,330,317. 2.20% of the stock is owned by insiders.

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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