PerkinElmer (PKI) Downgraded by Janney Montgomery Scott

PerkinElmer (NYSE:PKI) was downgraded by Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports.

PKI has been the subject of a number of other reports. Cleveland Research upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research report on Thursday, August 30th. Morgan Stanley raised their price objective on shares of PerkinElmer from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Bank of America raised their price objective on shares of PerkinElmer from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Cowen restated a “hold” rating and issued a $85.00 price objective on shares of PerkinElmer in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and a consensus target price of $87.84.

PKI stock opened at $83.62 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.17. PerkinElmer has a 12 month low of $69.21 and a 12 month high of $98.33. The company has a market capitalization of $9.26 billion, a PE ratio of 28.83, a PEG ratio of 1.83 and a beta of 1.11.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. The firm had revenue of $674.30 million during the quarter, compared to the consensus estimate of $676.72 million. During the same quarter last year, the business posted $0.73 earnings per share. PerkinElmer’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that PerkinElmer will post 3.61 EPS for the current year.

In other PerkinElmer news, Director Patrick J. Sullivan sold 12,672 shares of PerkinElmer stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $86.20, for a total transaction of $1,092,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas A. Lopardo sold 3,505 shares of PerkinElmer stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $85.60, for a total transaction of $300,028.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,126 shares of company stock valued at $2,986,855. 2.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Select Equity Group L.P. lifted its position in PerkinElmer by 7.2% during the second quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock valued at $631,754,000 after purchasing an additional 578,940 shares during the last quarter. Janus Henderson Group PLC lifted its position in PerkinElmer by 0.4% during the second quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock valued at $465,676,000 after purchasing an additional 22,710 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in PerkinElmer by 4.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after purchasing an additional 144,602 shares during the last quarter. Partner Fund Management L.P. lifted its position in PerkinElmer by 7.4% during the second quarter. Partner Fund Management L.P. now owns 1,161,817 shares of the medical research company’s stock valued at $85,080,000 after purchasing an additional 80,310 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in PerkinElmer by 6.3% during the second quarter. Schroder Investment Management Group now owns 777,808 shares of the medical research company’s stock valued at $56,305,000 after purchasing an additional 46,316 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

Read More: What Is An Exchange-Traded Fund (ETF)?

Analyst Recommendations for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply