Robert W. Baird Increases PerkinElmer, Inc. (PKI) Price Target to $78.00

PerkinElmer, Inc. (NYSE:PKI) had its price target lifted by equities researchers at Robert W. Baird from $75.00 to $78.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 10.45% from the stock’s previous close.

PKI has been the topic of several other reports. Wells Fargo & Company began coverage on PerkinElmer in a report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price target on the stock. Zacks Investment Research downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Monday, July 31st. 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. Cowen and Company reiterated a “hold” rating and issued a $70.00 price target on shares of PerkinElmer in a report on Friday, September 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of PerkinElmer in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer presently has a consensus rating of “Hold” and a consensus price target of $68.64.

PerkinElmer (NYSE PKI) traded down $1.45 during trading hours on Friday, hitting $70.62. The stock had a trading volume of 863,653 shares, compared to its average volume of 573,270. The company has a market cap of $7,783.38, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $73.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.43 and a quick ratio of 1.97.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. PerkinElmer had a return on equity of 13.50% and a net margin of 18.27%. The firm had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. analysts expect that PerkinElmer will post 2.88 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in PerkinElmer by 28.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 434 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of PerkinElmer by 185.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock worth $136,000 after purchasing an additional 1,300 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of PerkinElmer by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock worth $196,000 after purchasing an additional 60 shares in the last quarter. Carret Asset Management LLC acquired a new stake in shares of PerkinElmer in the 2nd quarter worth $210,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in shares of PerkinElmer in the 2nd quarter worth $222,000. 92.46% of the stock is currently owned by institutional investors and hedge funds.

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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