Jefferies Group LLC restated their hold rating on shares of PerkinElmer, Inc. (NYSE:PKI) in a report published on Friday, May 5th. The firm currently has a $49.00 price objective on the medical research company’s stock.
A number of other brokerages have also recently issued reports on PKI. Citigroup Inc lifted their price objective on PerkinElmer from $57.00 to $67.00 and gave the company a buy rating in a report on Friday, April 7th. Cantor Fitzgerald cut PerkinElmer from an overweight rating to a neutral rating and set a $60.00 price objective for the company. in a report on Wednesday, April 19th. Janney Montgomery Scott upgraded PerkinElmer from a neutral rating to a buy rating in a research note on Monday, March 27th. Zacks Investment Research upgraded PerkinElmer from a sell rating to a hold rating in a research note on Friday, March 10th. Finally, Bank of America Corp lowered PerkinElmer from a neutral rating to an underperform rating and set a $48.00 target price for the company. in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. PerkinElmer presently has a consensus rating of Hold and a consensus target price of $57.30.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. PerkinElmer had a return on equity of 14.26% and a net margin of 10.52%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Friday, July 21st will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.45%. PerkinElmer’s payout ratio is currently 13.15%.
In other news, Director Patrick J. Sullivan sold 6,628 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $62.59, for a total transaction of $414,846.52. Following the completion of the transaction, the director now directly owns 42,951 shares in the company, valued at approximately $2,688,303.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis P. Michas sold 8,308 shares of PerkinElmer stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $55.60, for a total value of $461,924.80. The disclosure for this sale can be found here. Insiders have sold a total of 198,583 shares of company stock valued at $11,761,403 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in PerkinElmer by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,612,667 shares of the medical research company’s stock valued at $616,171,000 after buying an additional 184,749 shares during the last quarter. Janus Capital Management LLC boosted its stake in 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 valued at $372,117,000 after buying an additional 587,948 shares during the last quarter. BlackRock Inc. boosted its stake in PerkinElmer by 4,652.8% in the first quarter. BlackRock Inc. now owns 5,787,627 shares of the medical research company’s stock valued at $336,029,000 after buying an additional 5,665,854 shares during the last quarter. State Street Corp boosted its stake in PerkinElmer by 2.2% in the first quarter. State Street Corp now owns 3,875,455 shares of the medical research company’s stock valued at $225,011,000 after buying an additional 82,817 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in PerkinElmer by 0.7% in the first quarter. Primecap Management Co. CA now owns 3,531,955 shares of the medical research company’s stock valued at $205,065,000 after buying an additional 25,825 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.
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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