PerkinElmer Inc. (NYSE:PKI) shares reached a new 52-week high during mid-day 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. Goldman Sachs Group Inc. increased their price objective on PerkinElmer to $42.00 in a research report on Wednesday, March 23rd. Morgan Stanley reiterated a “buy” rating on shares of PerkinElmer in a research report on Sunday, May 8th. Robert W. Baird reiterated a “buy” rating on shares of PerkinElmer in a research report on Sunday, May 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 price objective on shares of PerkinElmer in a research report on Friday, May 6th. Finally, Stifel Nicolaus increased their price objective on PerkinElmer from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $53.79.

The stock has a 50 day moving average price of $53.54 and a 200 day moving average price of $50.58. The firm has a market cap of $6.04 billion and a PE ratio of 28.43.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The business had revenue of $538.70 million for the quarter, compared to analyst estimates of $532.55 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. On average, equities research analysts predict that PerkinElmer Inc. will post $2.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 15th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, July 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.51%.

In other news, insider Daniel R. Tereau sold 2,158 shares of the company’s stock in a transaction 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 owns 8,602 shares in the company, valued at $436,895.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexis P. Michas sold 1,953 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were 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 owns 68,290 shares of the company’s stock, valued at approximately $3,745,706.50. The disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in PKI. Janus Capital Management raised its stake in shares of PerkinElmer by 24.9% in the third quarter. Janus Capital Management now owns 4,099,739 shares of the company’s stock valued at $188,424,000 after buying an additional 817,921 shares during the period. Winton Capital Group Ltd raised its stake in shares of PerkinElmer by 4,715.9% in the fourth quarter. Winton Capital Group Ltd now owns 427,698 shares of the company’s stock valued at $22,912,000 after buying an additional 418,817 shares during the period. WBI Investments Inc. purchased a new stake in shares of PerkinElmer during the fourth quarter valued at $4,510,000. Victory Capital Management Inc. raised its stake in shares of PerkinElmer by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,655,356 shares of the company’s stock valued at $142,248,000 after buying an additional 53,571 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of PerkinElmer by 11.2% in the fourth quarter. California Public Employees Retirement System now owns 394,600 shares of the company’s stock valued at $21,139,000 after buying an additional 39,700 shares during the period.

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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