Stifel Nicolaus Boosts PerkinElmer (NYSE:PKI) Price Target to $125.00

PerkinElmer (NYSE:PKI) had its price objective raised by Stifel Nicolaus from $95.00 to $125.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other research firms have also recently commented on PKI. Citigroup increased their price target on shares of PerkinElmer from $70.00 to $85.00 and gave the company a neutral rating in a research note on Monday, April 20th. Zacks Investment Research upgraded PerkinElmer from a sell rating to a hold rating and set a $105.00 price target on the stock in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on PerkinElmer from $80.00 to $85.00 and gave the stock a neutral rating in a research report on Wednesday, May 6th. Wells Fargo & Co upped their target price on shares of PerkinElmer from $105.00 to $130.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, Needham & Company LLC initiated coverage on PerkinElmer in a research note on Monday, July 13th. They set a hold rating on the stock. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $95.13.

Shares of NYSE PKI traded up $0.10 during midday trading on Wednesday, reaching $118.91. 901,776 shares of the company traded hands, compared to its average volume of 1,068,697. PerkinElmer has a 12 month low of $62.91 and a 12 month high of $121.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.30 and a current ratio of 1.85. The stock’s 50-day simple moving average is $102.67 and its 200-day simple moving average is $92.32. The firm has a market cap of $13.23 billion, a PE ratio of 45.21, a PEG ratio of 1.42 and a beta of 1.37.

PerkinElmer (NYSE:PKI) last announced its earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.87. The business had revenue of $811.91 million during the quarter, compared to analysts’ expectations of $703.32 million. PerkinElmer had a net margin of 9.87% and a return on equity of 18.41%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. On average, equities research analysts expect that PerkinElmer will post 4.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 16th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, October 15th. PerkinElmer’s dividend payout ratio (DPR) is presently 6.83%.

In other PerkinElmer news, Director Peter Barrett sold 7,552 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $100.11, for a total value of $756,030.72. Following the transaction, the director now directly owns 29,552 shares of the company’s stock, valued at $2,958,450.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Okun sold 6,699 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total transaction of $803,880.00. Following the sale, the insider now directly owns 17,009 shares of the company’s stock, valued at approximately $2,041,080. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,703 shares of company stock worth $2,079,050. 0.62% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Profund Advisors LLC acquired a new position in shares of PerkinElmer during the fourth quarter valued at about $211,000. DNB Asset Management AS raised its position in shares of PerkinElmer by 8.4% during the second quarter. DNB Asset Management AS now owns 13,861 shares of the medical research company’s stock worth $1,360,000 after purchasing an additional 1,071 shares during the period. APG Asset Management N.V. lifted its holdings in shares of PerkinElmer by 59.8% in the 1st quarter. APG Asset Management N.V. now owns 144,148 shares of the medical research company’s stock worth $10,851,000 after purchasing an additional 53,918 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of PerkinElmer by 8.7% in the 2nd quarter. Boston Trust Walden Corp now owns 167,465 shares of the medical research company’s stock worth $16,427,000 after acquiring an additional 13,404 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in PerkinElmer by 6.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 8,000 shares of the medical research company’s stock valued at $602,000 after acquiring an additional 500 shares in the last quarter. 93.34% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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