CIBC restated their average rating on shares of PerkinElmer (NYSE:PKI) in a research report sent to investors on Thursday morning. The firm currently has a $44.50 target price on the medical research company’s stock.
A number of other equities analysts also recently weighed in on the stock. UBS Group initiated coverage on shares of PerkinElmer in a report on Tuesday, October 9th. They issued a neutral rating and a $100.00 price target on the stock. Morgan Stanley dropped their price objective on shares of PerkinElmer from $100.00 to $86.00 and set an overweight rating on the stock in a report on Thursday, January 3rd. Needham & Company LLC assumed coverage on shares of PerkinElmer in a report on Wednesday, January 2nd. They set a hold rating and a $79.00 price objective on the stock. Janney Montgomery Scott downgraded shares of PerkinElmer from a buy rating to a neutral rating in a report on Friday, November 2nd. Finally, Cowen reaffirmed a hold rating and set a $85.00 price objective on shares of PerkinElmer in a report on Sunday, January 6th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. PerkinElmer presently has a consensus rating of Hold and an average price target of $82.90.
Shares of NYSE PKI traded up $0.95 during trading on Thursday, hitting $83.51. The stock had a trading volume of 927,700 shares, compared to its average volume of 663,813. PerkinElmer has a 12 month low of $70.74 and a 12 month high of $98.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.64 and a beta of 1.11.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is presently 9.66%.
In other news, Director Patrick J. Sullivan sold 10,000 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas A. Lopardo sold 2,000 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $82.12, for a total transaction of $164,240.00. Following the completion of the sale, the director now directly owns 1,661 shares in the company, valued at $136,401.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock worth $1,609,550. Insiders own 2.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in PKI. FMR LLC lifted its holdings in shares of PerkinElmer by 84.1% in the third quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock worth $135,194,000 after buying an additional 634,806 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of PerkinElmer by 7.2% in the second quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock worth $631,754,000 after buying an additional 578,940 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of PerkinElmer by 7.6% in the third quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock worth $634,084,000 after buying an additional 463,251 shares in the last quarter. State Treasurer State of Michigan lifted its holdings in shares of PerkinElmer by 1,039.8% in the third quarter. State Treasurer State of Michigan now owns 373,029 shares of the medical research company’s stock worth $36,285,000 after buying an additional 340,300 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of PerkinElmer by 58.3% in the third quarter. Morgan Stanley now owns 560,904 shares of the medical research company’s stock worth $54,558,000 after buying an additional 206,560 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.
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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