PerkinElmer (PKI) Stock Rating Upgraded by Zacks Investment Research

PerkinElmer (NYSE:PKI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $86.00 price target on the medical research company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.40% from the stock’s previous close.

According to Zacks, “PerkinElmer’s share price movement in the last year has been unsatisfactory. However, the company is well poised on solid organic revenue growth. Furthermore, a positive guidance instills our confidence in the stock. PerkinElmer’s strong global foothold is noteworthy, courtesy of its acquisition of Germany-based EUROIMMUN and India-based Tulip Diagnostics. The acquisition of EUROIMMUN should expand PerkinElmer’s reach into autoimmune and allergy diagnostic markets. Management expects the addition to drive R&D expense margin. With an enhanced focus on product innovation, PerkinElmer has considerable potential upside. On the flipside, despite having a solid portfolio, unfavorable foreign exchange is a primary concern. PerkinElmer continues to acquire a large number of companies. While this improves revenue opportunities, it adds to integration risks. Also, high debt levels may hinder the company’s expansion plans.”

Other equities analysts have also recently issued research reports about the company. Robert W. Baird reissued a “buy” rating and set a $72.00 price target on shares of PerkinElmer in a report on Friday, October 20th. Citigroup reissued a “buy” rating and set a $80.00 price target (up previously from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Jefferies Group reissued a “hold” rating and set a $70.00 price target on shares of PerkinElmer in a report on Friday, October 20th. Finally, Evercore ISI initiated coverage on PerkinElmer in a report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price target for the company. 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. The company currently has an average rating of “Hold” and an average price target of $72.29.

Shares of PerkinElmer (NYSE PKI) opened at $77.90 on Monday. The firm has a market capitalization of $8,440.00, a price-to-earnings ratio of 35.25, a PEG ratio of 1.85 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. PerkinElmer has a 1 year low of $50.59 and a 1 year high of $78.19.

In other PerkinElmer news, insider Frank Anders Wilson sold 37,535 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $70.14, for a total value of $2,632,704.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Okun sold 12,680 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $72.00, for a total value of $912,960.00. Following the completion of the transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at approximately $1,808,712. 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. Insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in PerkinElmer by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,175 shares of the medical research company’s stock worth $557,000 after purchasing an additional 31 shares in the last quarter. Sentry Investment Management LLC increased its holdings in PerkinElmer by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 8,025 shares of the medical research company’s stock worth $547,000 after purchasing an additional 78 shares in the last quarter. Westside Investment Management Inc. increased its holdings in PerkinElmer by 1.9% in the 2nd quarter. Westside Investment Management Inc. now owns 14,718 shares of the medical research company’s stock worth $1,008,000 after purchasing an additional 275 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PerkinElmer by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,870 shares of the medical research company’s stock worth $264,000 after purchasing an additional 318 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in PerkinElmer by 3.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 13,470 shares of the medical research company’s stock worth $918,000 after purchasing an additional 450 shares in the last quarter. 91.37% of the stock is owned by institutional investors and hedge funds.

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About PerkinElmer

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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