PerkinElmer (PKI) Raised to Buy at Goldman Sachs Group
Goldman Sachs Group upgraded shares of PerkinElmer (NYSE:PKI) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, 24/7 WallStreet reports. They currently have $115.00 target price on the medical research company’s stock.
PKI has been the topic of several other reports. Piper Jaffray Companies lifted their target price on PerkinElmer to $104.00 and gave the stock an overweight rating in a report on Friday, February 1st. Desjardins reissued an average rating and issued a $45.00 price objective on shares of PerkinElmer in a research report on Wednesday, January 16th. Morgan Stanley lowered their price objective on PerkinElmer from $100.00 to $86.00 and set an overweight rating for the company in a research report on Thursday, January 3rd. Zacks Investment Research lowered PerkinElmer from a buy rating to a hold rating in a research report on Friday, January 4th. Finally, Needham & Company LLC began coverage on PerkinElmer in a research report on Wednesday, January 2nd. They issued a hold rating and a $79.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. PerkinElmer has a consensus rating of Hold and a consensus target price of $85.06.
Shares of PKI opened at $99.99 on Tuesday. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.19 and a beta of 1.25. PerkinElmer has a 12 month low of $70.83 and a 12 month high of $103.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.16 and a current ratio of 1.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s dividend payout ratio (DPR) is presently 7.76%.
In other news, insider Daniel R. Tereau sold 1,200 shares of PerkinElmer stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $93.27, for a total value of $111,924.00. Following the completion of the transaction, the insider now directly owns 5,839 shares of the company’s stock, valued at approximately $544,603.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nicholas A. Lopardo sold 1,600 shares of PerkinElmer stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,475 shares of company stock valued at $5,910,744. Corporate insiders own 1.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in PerkinElmer in the 1st quarter valued at about $328,000. Hudson Valley Investment Advisors Inc. ADV increased its position in PerkinElmer by 2.0% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 18,150 shares of the medical research company’s stock valued at $1,749,000 after buying an additional 360 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in PerkinElmer in the 1st quarter valued at about $106,000. Deutsche Bank AG increased its position in PerkinElmer by 59.3% in the 4th quarter. Deutsche Bank AG now owns 177,244 shares of the medical research company’s stock valued at $13,919,000 after buying an additional 65,985 shares in the last quarter. Finally, Norges Bank bought a new stake in PerkinElmer in the 4th quarter valued at about $66,531,000. 96.39% of the stock is owned by institutional investors and hedge funds.
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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