PerkinElmer Inc. (PKI) Hits New 52-Week High at $56.19
PerkinElmer Inc. (NYSE:PKI) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $56.19 and last traded at $56.00, with a volume of 207,838 shares. The stock had previously closed at $55.67.
PKI has been the subject of several research analyst reports. Bank of America Corp. downgraded PerkinElmer from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Tuesday, April 5th. Zacks Investment Research upgraded PerkinElmer from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Goldman Sachs Group Inc. lifted their target price on PerkinElmer to $42.00 in a research note on Wednesday, March 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 target price on shares of PerkinElmer in a research note on Friday, May 6th. Finally, Stifel Nicolaus lifted their target price on PerkinElmer from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. PerkinElmer has an average rating of “Hold” and an average target price of $53.79.
The firm’s 50-day moving average is $53.52 and its 200 day moving average is $50.53. The company has a market capitalization of $6.11 billion and a PE ratio of 28.78.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. During the same period last year, the company earned $0.50 earnings per share. The company earned $538.70 million during the quarter, compared to analysts’ expectations of $532.55 million. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that PerkinElmer Inc. will post $2.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Wednesday, July 13th.
In other news, Director Alexis P. Michas sold 1,953 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $54.85, for a total value of $107,122.05. Following the completion of the sale, the director now directly owns 68,290 shares of the company’s stock, valued at $3,745,706.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel R. Tereau sold 2,158 shares of the stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $50.79, for a total value of $109,604.82. Following the completion of the sale, the insider now directly owns 8,602 shares of the company’s stock, valued at $436,895.58. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of PerkinElmer during the fourth quarter valued at approximately $1,076,000. GSA Capital Partners LLP acquired a new stake in shares of PerkinElmer during the fourth quarter worth approximately $1,101,000. Aberdeen Asset Management PLC UK increased its stake in shares of PerkinElmer by 21.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 26,237 shares of the company’s stock worth $1,285,000 after buying an additional 4,600 shares during the last quarter. Bank of Montreal Can increased its stake in shares of PerkinElmer by 25.4% in the fourth quarter. Bank of Montreal Can now owns 27,300 shares of the company’s stock worth $1,461,000 after buying an additional 5,533 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of PerkinElmer by 23.9% in the fourth quarter. Suntrust Banks Inc. now owns 35,622 shares of the company’s stock worth $1,907,000 after buying an additional 6,880 shares during the last quarter.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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