Evercore ISI began coverage on shares of PerkinElmer (NYSE:PKI) in a research note issued to investors on Wednesday, January 3rd. The brokerage issued an in-line rating and a $77.00 price target on the medical research company’s stock.
PKI has been the topic of several other research reports. Goldman Sachs Group reissued a neutral rating and issued a $67.00 price target on shares of PerkinElmer in a report on Tuesday, September 26th. Robert W. Baird restated a buy rating and issued a $72.00 target price on shares of PerkinElmer in a research report on Friday, October 20th. Bank of America upgraded PerkinElmer from an underperform rating to a neutral rating and set a $78.00 target price on the stock in a research report on Tuesday, December 19th. ValuEngine cut PerkinElmer from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Morgan Stanley reiterated an overweight rating and set a $77.00 price target (down from $79.00) on shares of PerkinElmer in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. PerkinElmer presently has a consensus rating of Hold and an average price target of $72.29.
PerkinElmer (NYSE:PKI) opened at $78.89 on Wednesday. The company has a market capitalization of $8,555.68, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. PerkinElmer has a 1-year low of $50.59 and a 1-year high of $79.02. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.
In related news, Director Nicholas A. Lopardo sold 24,050 shares of PerkinElmer stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $70.72, for a total transaction of $1,700,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Barrett sold 7,071 shares of PerkinElmer stock in a transaction on Monday, November 13th. The shares were sold at an average price of $71.07, for a total value of $502,535.97. Following the sale, the director now directly owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,336 shares of company stock valued at $6,114,917. 2.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PKI. Schwab Charles Investment Management Inc. increased its stake in shares of PerkinElmer by 6.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 594,337 shares of the medical research company’s stock worth $40,499,000 after purchasing an additional 34,680 shares during the period. Legal & General Group Plc increased its stake in shares of PerkinElmer by 13.0% in the second quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock worth $6,815,000 after purchasing an additional 11,530 shares during the period. Federated Investors Inc. PA increased its stake in shares of PerkinElmer by 164.3% in the second quarter. Federated Investors Inc. PA now owns 11,787 shares of the medical research company’s stock worth $803,000 after purchasing an additional 7,327 shares during the period. Utah Retirement Systems increased its stake in shares of PerkinElmer by 1.5% in the second quarter. Utah Retirement Systems now owns 20,076 shares of the medical research company’s stock worth $1,368,000 after purchasing an additional 300 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of PerkinElmer by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock worth $3,545,000 after purchasing an additional 19,464 shares during the period. Institutional investors own 91.37% of the company’s stock.
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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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