PerkinElmer, Inc. (NYSE:PKI – Get Rating) – KeyCorp dropped their Q3 2022 EPS estimates for PerkinElmer in a report released on Tuesday, May 3rd. KeyCorp analyst P. Knight now forecasts that the medical research company will post earnings of $1.31 per share for the quarter, down from their previous forecast of $1.42. KeyCorp also issued estimates for PerkinElmer’s FY2022 earnings at $7.40 EPS and FY2024 earnings at $7.80 EPS.
PerkinElmer (NYSE:PKI – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The medical research company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.29. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.19 billion. PerkinElmer had a return on equity of 19.81% and a net margin of 14.54%. PerkinElmer’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.72 earnings per share.
PKI opened at $147.92 on Friday. The stock’s fifty day moving average is $167.21 and its two-hundred day moving average is $176.53. The company has a market capitalization of $18.66 billion, a P/E ratio of 24.21, a PEG ratio of 0.48 and a beta of 1.16. PerkinElmer has a 52 week low of $134.56 and a 52 week high of $203.16. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.70.
Several institutional investors have recently bought and sold shares of PKI. Amundi Pioneer Asset Management Inc. boosted its position in shares of PerkinElmer by 1.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 128,822 shares of the medical research company’s stock worth $12,413,000 after purchasing an additional 1,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of PerkinElmer by 9.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,998 shares of the medical research company’s stock worth $1,039,000 after purchasing an additional 535 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in PerkinElmer by 50.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,631 shares of the medical research company’s stock worth $3,229,000 after acquiring an additional 6,233 shares during the period. PNC Financial Services Group Inc. lifted its position in PerkinElmer by 2.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 19,928 shares of the medical research company’s stock worth $3,454,000 after acquiring an additional 416 shares during the period. Finally, Advisory Services Network LLC lifted its position in PerkinElmer by 151.2% during the 3rd quarter. Advisory Services Network LLC now owns 1,510 shares of the medical research company’s stock worth $263,000 after acquiring an additional 909 shares during the period. 89.27% of the stock is owned by hedge funds and other institutional investors.
In other PerkinElmer news, insider Daniel R. Tereau sold 6,696 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $165.84, for a total transaction of $1,110,464.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 22nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $0.28 annualized dividend and a yield of 0.19%. PerkinElmer’s dividend payout ratio (DPR) is presently 4.58%.
About PerkinElmer (Get Rating)
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as contract research and laboratory services.
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