PerkinElmer (NYSE:PKI) Price Target Raised to $202.00 at Robert W. Baird

PerkinElmer (NYSE:PKIGet Rating) had its target price upped by Robert W. Baird from $198.00 to $202.00 in a report issued on Tuesday morning, The Fly reports. Robert W. Baird currently has a maintains rating on the medical research company’s stock.

A number of other equities analysts have also recently commented on PKI. UBS Group initiated coverage on PerkinElmer in a report on Wednesday, July 20th. They set a buy rating and a $160.00 price target for the company. Bank of America cut PerkinElmer from a buy rating to a neutral rating and set a $178.00 price target for the company. in a report on Tuesday. The Goldman Sachs Group reduced their price target on PerkinElmer from $200.00 to $175.00 and set a neutral rating for the company in a report on Thursday, July 14th. Citigroup reduced their price target on PerkinElmer from $185.00 to $170.00 in a report on Wednesday, May 4th. Finally, Barclays boosted their price objective on PerkinElmer from $125.00 to $149.00 and gave the stock a maintains rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, PerkinElmer has a consensus rating of Moderate Buy and a consensus target price of $161.13.

PerkinElmer Stock Performance

PKI opened at $154.10 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.94 and a quick ratio of 1.43. The business’s 50-day moving average price is $144.50 and its two-hundred day moving average price is $159.50. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.45 and a beta of 1.12. PerkinElmer has a 1 year low of $130.65 and a 1 year high of $203.16.

PerkinElmer (NYSE:PKIGet Rating) last released its earnings results on Monday, August 1st. The medical research company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.31. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. PerkinElmer had a return on equity of 18.98% and a net margin of 14.54%. PerkinElmer’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.83 earnings per share. Equities analysts expect that PerkinElmer will post 7.3 EPS for the current fiscal year.

PerkinElmer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s dividend payout ratio (DPR) is currently 4.58%.

Insider Activity at PerkinElmer

In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the transaction, the insider now directly owns 13,380 shares in the company, valued at $1,941,973.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the transaction, the insider now directly owns 13,380 shares in the company, valued at $1,941,973.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James M. Mock sold 5,025 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $145.49, for a total transaction of $731,087.25. Following the transaction, the insider now owns 27,577 shares of the company’s stock, valued at $4,012,177.73. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its holdings in shares of PerkinElmer by 9.4% during the first quarter. Capital Research Global Investors now owns 14,317,805 shares of the medical research company’s stock worth $2,497,944,000 after buying an additional 1,235,625 shares in the last quarter. BlackRock Inc. increased its holdings in shares of PerkinElmer by 0.5% during the first quarter. BlackRock Inc. now owns 8,432,706 shares of the medical research company’s stock worth $1,471,170,000 after buying an additional 38,016 shares in the last quarter. State Street Corp increased its holdings in shares of PerkinElmer by 1.8% during the first quarter. State Street Corp now owns 5,156,711 shares of the medical research company’s stock worth $899,640,000 after buying an additional 91,470 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PerkinElmer by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,176,151 shares of the medical research company’s stock worth $728,571,000 after buying an additional 61,791 shares in the last quarter. Finally, Pictet Asset Management SA increased its holdings in shares of PerkinElmer by 3.0% during the fourth quarter. Pictet Asset Management SA now owns 3,371,250 shares of the medical research company’s stock worth $677,824,000 after buying an additional 97,866 shares in the last quarter. 89.27% of the stock is currently owned by institutional investors and hedge funds.

PerkinElmer Company Profile

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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