PerkinElmer, Inc. (NYSE:PKI)‘s stock had its “buy” rating reaffirmed by stock analysts at Robert W. Baird in a research note issued to investors on Friday, October 20th. They presently have a $72.00 price target on the medical research company’s stock. Robert W. Baird’s target price points to a potential downside of 0.99% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. Cantor Fitzgerald restated a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. Piper Jaffray Companies restated a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a research report on Friday, August 4th. BidaskClub cut shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Wells Fargo & Company started coverage on shares of PerkinElmer in a research report on Thursday, July 13th. They set a “market perform” rating and a $72.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. PerkinElmer has an average rating of “Hold” and a consensus price target of $68.14.
PerkinElmer (NYSE:PKI) opened at 72.72 on Friday. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $72.77. The company has a market capitalization of $8.01 billion, a PE ratio of 21.93 and a beta of 0.72. The stock’s 50 day moving average price is $69.96 and its 200-day moving average price is $65.82.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. On average, equities research analysts predict that PerkinElmer will post $2.88 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in PerkinElmer by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock worth $741,816,000 after purchasing an additional 273,975 shares during the period. Janus Henderson Group PLC bought a new position in PerkinElmer in the 2nd quarter worth about $436,483,000. BlackRock Inc. grew its stake in PerkinElmer by 2.4% in the 2nd quarter. BlackRock Inc. now owns 5,929,277 shares of the medical research company’s stock worth $404,022,000 after acquiring an additional 141,650 shares in the last quarter. State Street Corp grew its stake in PerkinElmer by 2.2% in the 1st quarter. State Street Corp now owns 3,875,455 shares of the medical research company’s stock worth $225,011,000 after acquiring an additional 82,817 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in PerkinElmer by 2.1% in the 2nd quarter. Pictet Asset Management Ltd. now owns 3,433,659 shares of the medical research company’s stock worth $216,526,000 after acquiring an additional 71,540 shares in the last quarter. 92.07% of the stock is currently owned by institutional investors.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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