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.
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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