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

PerkinElmer (NYSE:PKIGet Rating) had its price target lifted by Robert W. Baird from $198.00 to $202.00 in a report published on Tuesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical research company’s stock.

Several other research firms have also commented on PKI. The Goldman Sachs Group reduced their price target on shares of PerkinElmer from $200.00 to $175.00 and set a neutral rating on the stock in a research report on Thursday, July 14th. UBS Group initiated coverage on shares of PerkinElmer in a report on Wednesday, July 20th. They issued a buy rating and a $160.00 target price for the company. Barclays initiated coverage on shares of PerkinElmer in a report on Tuesday, May 17th. They issued an underweight rating and a $125.00 target price for the company. Citigroup dropped their target price on shares of PerkinElmer from $185.00 to $170.00 in a report on Wednesday, May 4th. Finally, Bank of America downgraded shares of PerkinElmer from a buy rating to a neutral rating and set a $178.00 target price for the company. in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, PerkinElmer presently has an average rating of Hold and an average target price of $161.13.

PerkinElmer Trading Down 0.8 %

PKI opened at $152.95 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 company’s 50 day simple moving average is $144.86 and its two-hundred day simple moving average is $159.28. PerkinElmer has a 1-year low of $130.65 and a 1-year high of $203.16. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.12.

PerkinElmer (NYSE:PKIGet Rating) last released its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.01 by $0.31. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.72%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.83 EPS. Analysts expect that PerkinElmer will post 7.81 EPS for the current fiscal year.

PerkinElmer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Shareholders of record on Friday, October 21st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, October 20th. PerkinElmer’s payout ratio is currently 5.24%.

Insiders Place Their Bets

In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 13,380 shares of the company’s stock, valued at approximately $1,941,973.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel R. Tereau sold 5,700 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $145.14, for a total value of $827,298.00. Following the completion of the sale, the insider now owns 13,380 shares in the company, valued at $1,941,973.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James M. Mock sold 5,025 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $145.49, for a total transaction of $731,087.25. Following the completion of the sale, the insider now owns 27,577 shares of the company’s stock, valued at approximately $4,012,177.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,898 shares of company stock valued at $2,083,263. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On PerkinElmer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its holdings in PerkinElmer by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,797 shares of the medical research company’s stock valued at $2,294,000 after purchasing an additional 192 shares during the period. Fifth Third Bancorp grew its stake in PerkinElmer by 81.3% during the fourth quarter. Fifth Third Bancorp now owns 1,916 shares of the medical research company’s stock worth $385,000 after buying an additional 859 shares during the period. Principal Financial Group Inc. grew its stake in PerkinElmer by 6.4% during the fourth quarter. Principal Financial Group Inc. now owns 173,521 shares of the medical research company’s stock worth $34,888,000 after buying an additional 10,465 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in PerkinElmer by 26.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,472 shares of the medical research company’s stock worth $4,720,000 after buying an additional 4,841 shares during the period. Finally, Mackenzie Financial Corp grew its stake in PerkinElmer by 2.2% during the fourth quarter. Mackenzie Financial Corp now owns 25,780 shares of the medical research company’s stock worth $5,183,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 89.27% of the company’s stock.

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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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