PerkinElmer, Inc. (NYSE:PKI) had its price objective boosted by Morgan Stanley from $77.00 to $78.00 in a research note issued to investors on Friday. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective points to a potential upside of 10.45% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Robert W. Baird increased their price target on shares of PerkinElmer from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup Inc. reiterated a “buy” rating and issued a $80.00 price target (up previously from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $67.00 price target on shares of PerkinElmer in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Tuesday, August 1st. Finally, Wells Fargo & Company started coverage on shares of PerkinElmer in a report on Thursday, July 13th. They set a “market perform” rating and a $72.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and a consensus price target of $68.64.
Shares of PerkinElmer (NYSE:PKI) traded down $1.65 on Friday, reaching $70.62. 863,653 shares of the company traded hands, compared to its average volume of 573,270. The stock has a market capitalization of $7.94 billion, a PE ratio of 25.92 and a beta of 0.77.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.67. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a net margin of 18.27% and a return on equity of 13.50%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. equities research analysts forecast that PerkinElmer will post 2.89 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its position in PerkinElmer by 59.9% during the third quarter. BNP Paribas Arbitrage SA now owns 60,638 shares of the medical research company’s stock valued at $4,182,000 after buying an additional 22,710 shares in the last quarter. Bessemer Group Inc. lifted its position in PerkinElmer by 22.2% during the third quarter. Bessemer Group Inc. now owns 27,149 shares of the medical research company’s stock valued at $1,873,000 after buying an additional 4,936 shares in the last quarter. Swiss National Bank lifted its position in PerkinElmer by 0.8% during the third quarter. Swiss National Bank now owns 184,000 shares of the medical research company’s stock valued at $12,690,000 after buying an additional 1,500 shares in the last quarter. Prudential Financial Inc. lifted its position in PerkinElmer by 6.1% during the third quarter. Prudential Financial Inc. now owns 161,133 shares of the medical research company’s stock valued at $11,114,000 after buying an additional 9,250 shares in the last quarter. Finally, USA Financial Portformulas Corp acquired a new position in PerkinElmer during the third quarter valued at approximately $3,016,000. 92.46% of the stock is currently owned by hedge funds and other institutional investors.
PerkinElmer Company Profile
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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