PerkinElmer, Inc. (NYSE:PKI) has received an average recommendation of “Hold” from the fourteen research firms that are covering the stock. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $56.60.
Several brokerages recently commented on PKI. BTIG Research reiterated a “hold” rating on shares of PerkinElmer in a report on Sunday, February 5th. Deutsche Bank AG reiterated a “hold” rating and issued a $55.00 target price on shares of PerkinElmer in a report on Wednesday, January 18th. Cantor Fitzgerald set a $60.00 target price on shares of PerkinElmer and gave the stock a “buy” rating in a report on Sunday, December 25th. Citigroup Inc lifted their target price on shares of PerkinElmer from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, April 7th. Finally, Janney Montgomery Scott upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating in a report on Monday, March 27th.
Shares of PerkinElmer (NYSE:PKI) traded up 0.07% during trading on Monday, reaching $57.28. The company’s stock had a trading volume of 484,499 shares. The company has a 50 day moving average price of $56.82 and a 200 day moving average price of $53.77. The firm has a market capitalization of $6.29 billion, a P/E ratio of 26.90 and a beta of 0.80. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $58.40.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Friday, April 14th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, April 11th. This represents a $0.28 annualized dividend and a dividend yield of 0.49%. PerkinElmer’s dividend payout ratio (DPR) is currently 13.15%.
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In other PerkinElmer news, insider Andrew Okun sold 3,000 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $57.27, for a total value of $171,810.00. Following the transaction, the insider now directly owns 12,441 shares in the company, valued at $712,496.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexis P. Michas sold 8,308 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $55.60, for a total transaction of $461,924.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,972 shares of company stock worth $3,789,481. Company insiders own 2.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PKI. Norges Bank purchased a new position in PerkinElmer during the fourth quarter worth approximately $46,002,000. Levin Capital Strategies L.P. increased its position in shares of PerkinElmer by 7,110.7% in the fourth quarter. Levin Capital Strategies L.P. now owns 605,702 shares of the medical research company’s stock worth $31,587,000 after buying an additional 597,302 shares in the last quarter. Janus Capital Management LLC increased its position in shares of PerkinElmer by 9.0% in the fourth quarter. Janus Capital Management LLC now owns 7,135,509 shares of the medical research company’s stock worth $372,117,000 after buying an additional 587,948 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of PerkinElmer by 111.5% in the third quarter. Ameriprise Financial Inc. now owns 988,344 shares of the medical research company’s stock worth $55,459,000 after buying an additional 520,979 shares in the last quarter. Finally, Polar Capital LLP bought a new position in shares of PerkinElmer during the third quarter worth $25,250,000. Hedge funds and other institutional investors own 89.82% 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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