PerkinElmer (NYSE:PKI) Price Target Lowered to $140.00 at Barclays

PerkinElmer (NYSE:PKI – Get Rating) had its price target trimmed by Barclays from $145.00 to $140.00 in a report published on Tuesday, The Fly reports. The brokerage currently has an equal weight rating on the medical research company’s stock.

A number of other research firms have also commented on PKI. Cowen raised shares of PerkinElmer from a market perform rating to an outperform rating and set a $164.00 price objective for the company in a research note on Tuesday, December 6th. Robert W. Baird reduced their price objective on shares of PerkinElmer from $202.00 to $178.00 in a research note on Wednesday, November 9th. Cowen raised shares of PerkinElmer from a market perform rating to an outperform rating and reduced their price objective for the company from $192.00 to $164.00 in a research note on Tuesday, December 6th. StockNews.com downgraded PerkinElmer from a buy rating to a hold rating in a report on Thursday, November 10th. Finally, Credit Suisse Group dropped their target price on PerkinElmer from $175.00 to $160.00 and set a neutral rating on the stock in a report on Monday, November 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $165.90.

PerkinElmer Price Performance

Shares of NYSE PKI opened at $134.87 on Tuesday. PerkinElmer has a twelve month low of $113.46 and a twelve month high of $190.56. The company has a current ratio of 2.10, a quick ratio of 1.84 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 0.50 and a beta of 1.12. The firm has a 50-day moving average of $138.10 and a two-hundred day moving average of $137.30.

PerkinElmer (NYSE:PKI – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The medical research company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.03. PerkinElmer had a net margin of 13.60% and a return on equity of 15.58%. The company had revenue of $711.80 million during the quarter, compared to the consensus estimate of $1.03 billion. As a group, analysts expect that PerkinElmer will post 7.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 1,663 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $138.85, for a total value of $230,907.55. Following the transaction, the insider now owns 17,205 shares in the company, valued at $2,388,914.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PerkinElmer

Hedge funds have recently added to or reduced their stakes in the company. Accurate Wealth Management LLC acquired a new position in PerkinElmer in the fourth quarter worth approximately $27,000. Clear Street Markets LLC grew its holdings in PerkinElmer by 417.6% during the second quarter. Clear Street Markets LLC now owns 264 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 213 shares during the last quarter. Private Trust Co. NA acquired a new position in PerkinElmer during the second quarter valued at approximately $42,000. FourThought Financial LLC acquired a new position in PerkinElmer during the third quarter valued at approximately $42,000. Finally, Crewe Advisors LLC grew its holdings in PerkinElmer by 546.8% during the second quarter. Crewe Advisors LLC now owns 401 shares of the medical research company’s stock valued at $57,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 85.22% 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.