Analysts expect that PerkinElmer, Inc. (NYSE:PKI) will post $673.68 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for PerkinElmer’s earnings. The lowest sales estimate is $666.00 million and the highest is $684.40 million. PerkinElmer reported sales of $643.97 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The business is expected to announce its next earnings report on Monday, April 29th.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.92 billion for the current financial year, with estimates ranging from $2.88 billion to $2.95 billion. For the next financial year, analysts expect that the company will post sales of $3.10 billion, with estimates ranging from $3.05 billion to $3.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for PerkinElmer.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, January 31st. The medical research company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.02. PerkinElmer had a return on equity of 15.94% and a net margin of 8.56%. The firm had revenue of $756.35 million during the quarter, compared to analyst estimates of $746.15 million. During the same period last year, the company posted $0.97 EPS.
Shares of PerkinElmer stock traded up $0.36 during trading on Friday, hitting $90.86. 1,592,520 shares of the stock traded hands, compared to its average volume of 579,898. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 1.82 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.70 and a quick ratio of 1.18. PerkinElmer has a twelve month low of $70.74 and a twelve month high of $98.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s payout ratio is 7.76%.
In other PerkinElmer news, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick J. Sullivan sold 10,000 shares of PerkinElmer stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total value of $816,400.00. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $1,609,550 over the last three months. 2.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PKI. FMR LLC increased its position in PerkinElmer by 84.1% in the 3rd quarter. FMR LLC now owns 1,389,877 shares of the medical research company’s stock worth $135,194,000 after buying an additional 634,806 shares during the period. BlackRock Inc. increased its position in shares of PerkinElmer by 7.6% during the third quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock valued at $634,084,000 after purchasing an additional 463,251 shares during the period. State Treasurer State of Michigan increased its position in shares of PerkinElmer by 1,039.8% during the third quarter. State Treasurer State of Michigan now owns 373,029 shares of the medical research company’s stock valued at $36,285,000 after purchasing an additional 340,300 shares during the period. Morgan Stanley increased its position in shares of PerkinElmer by 58.3% during the third quarter. Morgan Stanley now owns 560,904 shares of the medical research company’s stock valued at $54,558,000 after purchasing an additional 206,560 shares during the period. Finally, Vanguard Group Inc increased its position in shares of PerkinElmer by 1.7% during the third quarter. Vanguard Group Inc now owns 11,628,380 shares of the medical research company’s stock valued at $1,131,092,000 after purchasing an additional 198,673 shares during the period. 94.78% of the stock is currently owned by institutional investors.
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.
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