PerkinElmer (PKI) Lifted to Buy at Zacks Investment Research


Zacks Investment Research upgraded shares of PerkinElmer (NYSE:PKI) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $81.00 price objective on the medical research company’s stock.

According to Zacks, “PerkinElmer exited the first quarter of 2018 on a solid note with strong performance in the DAS segment. Growth in DAS was bolstered by strength in the lifesciences end markets, informatics profile and OneSource offering. Recently, the company experienced healthy growth across all major geographies in Asia, Americas, Europe and the BRIC nations. Solid prospects in the elemental-analysis product line hold promise. Furthermore, a positive guidance and a solid long-term outlook for 2020 boosts investors’ confidence in the stock. On the flipside, despite having a diversified portfolio, unfavorable foreign exchange is a primary concern. Softness in the industrial end markets due to unfavorable timing of instrument orders has been a major dampener for PerkinElmer. Further, the company continues to acquire a large number of companies which increases integration risks. Also, high debt levels may hinder the company’s expansion plans. “


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PKI has been the topic of a number of other research reports. Deutsche Bank cut their price target on shares of PerkinElmer from $85.00 to $80.00 and set a hold rating on the stock in a report on Monday, April 9th. Morgan Stanley cut their price target on shares of PerkinElmer from $89.00 to $85.00 and set an overweight rating on the stock in a report on Wednesday, April 11th. Cowen reissued a hold rating and issued a $84.00 price target on shares of PerkinElmer in a report on Friday, January 26th. ValuEngine lowered shares of PerkinElmer from a buy rating to a hold rating in a report on Wednesday, May 2nd. Finally, Bank of America cut their price target on shares of PerkinElmer from $86.00 to $83.00 and set a hold rating on the stock in a report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. PerkinElmer presently has an average rating of Hold and an average price target of $77.22.


Shares of PerkinElmer stock opened at $72.82 on Thursday. The firm has a market capitalization of $8,046.90, a price-to-earnings ratio of 25.11, a PEG ratio of 1.67 and a beta of 0.84. PerkinElmer has a 12-month low of $60.12 and a 12-month high of $84.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.33.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Monday, April 30th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $644.00 million for the quarter, compared to analyst estimates of $618.97 million. PerkinElmer had a net margin of 11.73% and a return on equity of 13.26%. The company’s revenue was up 0 on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. research analysts expect that PerkinElmer will post 3.61 earnings per share for the current fiscal year.


The business also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 20th will be given a $0.07 dividend. The ex-dividend date is Thursday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. PerkinElmer’s dividend payout ratio is 9.66%.

In other news, insider Daniel R. Tereau sold 1,156 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $77.00, for a total value of $89,012.00. Following the completion of the sale, the insider now directly owns 6,784 shares of the company’s stock, valued at approximately $522,368. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Okun sold 2,324 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $75.44, for a total transaction of $175,322.56. Following the completion of the sale, the insider now directly owns 8,876 shares of the company’s stock, valued at $669,605.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,136 shares of company stock valued at $7,928,659. Corporate insiders own 2.10% of the company’s stock.


Several large investors have recently bought and sold shares of PKI. Daiwa Securities Group Inc. lifted its position in PerkinElmer by 555,238.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 116,621 shares of the medical research company’s stock valued at $8,527,000 after acquiring an additional 116,600 shares during the period. W. E. Donoghue & Co. LLC purchased a new position in PerkinElmer during the 4th quarter valued at about $2,676,000. Bank of New York Mellon Corp lifted its position in PerkinElmer by 8.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,007,210 shares of the medical research company’s stock valued at $73,647,000 after acquiring an additional 74,735 shares during the period. Swiss National Bank lifted its position in PerkinElmer by 2.0% during the 4th quarter. Swiss National Bank now owns 187,700 shares of the medical research company’s stock valued at $13,725,000 after acquiring an additional 3,700 shares during the period. Finally, State of Wisconsin Investment Board lifted its position in PerkinElmer by 6.4% during the 4th quarter. State of Wisconsin Investment Board now owns 25,799 shares of the medical research company’s stock valued at $1,886,000 after acquiring an additional 1,544 shares during the period. 92.20% of the stock is owned by hedge funds and other 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 develops and 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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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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