PerkinElmer (NYSE:PKI)‘s stock had its “average” rating restated by research analysts at CIBC in a research note issued on Thursday. They presently have a $44.50 price objective on the medical research company’s stock. CIBC’s price target points to a potential downside of 46.71% from the stock’s previous close.

A number of other research firms have also commented on PKI. Morgan Stanley boosted their price objective on PerkinElmer from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. UBS Group started coverage on PerkinElmer in a research note on Tuesday, October 9th. They issued a “neutral” rating and a $100.00 price objective on the stock. Janney Montgomery Scott downgraded PerkinElmer from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Needham & Company LLC started coverage on PerkinElmer in a research report on Wednesday, January 2nd. They set a “hold” rating and a $79.00 target price for the company. Finally, Zacks Investment Research downgraded PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $82.90.

PerkinElmer stock opened at $83.51 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.18 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. PerkinElmer has a 52 week low of $70.74 and a 52 week high of $98.33.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $674.30 million during the quarter, compared to analyst estimates of $676.72 million. PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. PerkinElmer’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. Research analysts anticipate that PerkinElmer will post 3.6 earnings per share for the current year.

In other news, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $90.95, for a total transaction of $454,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick J. Sullivan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $81.64, for a total value of $816,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $1,609,550. 2.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in PerkinElmer during the second quarter worth about $463,000. Raymond James & Associates increased its position in shares of PerkinElmer by 93.5% during the second quarter. Raymond James & Associates now owns 6,065 shares of the medical research company’s stock valued at $444,000 after acquiring an additional 2,930 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PerkinElmer during the second quarter valued at about $720,000. Natixis acquired a new stake in shares of PerkinElmer during the second quarter valued at about $526,000. Finally, Bank of America Corp DE increased its position in shares of PerkinElmer by 30.1% during the second quarter. Bank of America Corp DE now owns 424,925 shares of the medical research company’s stock valued at $31,117,000 after acquiring an additional 98,416 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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