PerkinElmer (NYSE:PKI) Price Target Raised to $130.00 at Wells Fargo & Co
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.
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.
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.
Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.