PerkinElmer (NYSE:PKI) had its price target lifted by Wells Fargo & Co from $105.00 to $130.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other research analysts also recently issued reports on PKI. JPMorgan Chase & Co. boosted their target price on shares of PerkinElmer from $80.00 to $85.00 and gave the company a neutral rating in a research report on Wednesday, May 6th. Stifel Nicolaus dropped their target price on shares of PerkinElmer from $102.00 to $80.00 and set a buy rating on the stock in a research report on Thursday, April 2nd. Citigroup boosted their target price on shares of PerkinElmer from $70.00 to $85.00 and gave the company a neutral rating in a research report on Monday, April 20th. Cfra upgraded shares of PerkinElmer from a hold rating to a buy rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of PerkinElmer from a sell rating to a hold rating and set a $105.00 target price on the stock in a research report on Thursday, May 28th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $95.13.

PKI opened at $118.91 on Wednesday. The company’s 50 day moving average price is $102.67 and its two-hundred day moving average price is $92.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.30. PerkinElmer has a fifty-two week low of $62.91 and a fifty-two week high of $121.44. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 1.42 and a beta of 1.37.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.87. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. The company had revenue of $811.91 million for the quarter, compared to analyst estimates of $703.32 million. During the same period in the prior year, the firm posted $1.00 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts predict that PerkinElmer will post 4.83 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, October 15th. PerkinElmer’s payout ratio is 6.83%.

In other news, insider Andrew Okun sold 6,699 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $120.00, for a total value of $803,880.00. Following the sale, the insider now directly owns 17,009 shares of the company’s stock, valued at $2,041,080. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Barrett sold 7,552 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $100.11, for a total transaction of $756,030.72. Following the completion of the sale, the director now directly owns 29,552 shares in the company, valued at $2,958,450.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,703 shares of company stock worth $2,079,050. Insiders own 0.62% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PKI. Comerica Bank grew its stake in PerkinElmer by 50.7% in the 2nd quarter. Comerica Bank now owns 50,703 shares of the medical research company’s stock worth $5,680,000 after buying an additional 17,050 shares in the last quarter. Prudential PLC purchased a new position in PerkinElmer in the 2nd quarter worth approximately $64,200,000. Fox Run Management L.L.C. purchased a new position in PerkinElmer in the 2nd quarter worth approximately $602,000. Mackay Shields LLC grew its stake in PerkinElmer by 2.2% in the 2nd quarter. Mackay Shields LLC now owns 17,585 shares of the medical research company’s stock worth $1,725,000 after buying an additional 379 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in PerkinElmer by 12.0% in the 2nd quarter. State of Michigan Retirement System now owns 28,470 shares of the medical research company’s stock worth $2,793,000 after buying an additional 3,041 shares in the last quarter. Institutional investors and hedge funds own 93.34% of the company’s stock.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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The Fly

Analyst Recommendations for PerkinElmer (NYSE:PKI)

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