Barclays Increases PerkinElmer (NYSE:PKI) Price Target to $149.00

PerkinElmer (NYSE:PKIGet Rating) had its price target lifted by research analysts at Barclays from $125.00 to $149.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has a “maintains” rating on the medical research company’s stock. Barclays‘s target price points to a potential downside of 3.39% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. UBS Group assumed coverage on PerkinElmer in a report on Wednesday, July 20th. They issued a “buy” rating and a $160.00 price target for the company. Robert W. Baird dropped their price target on PerkinElmer from $216.00 to $198.00 in a research report on Wednesday, May 4th. Bank of America lowered PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 price target on the stock. in a research report on Tuesday. The Goldman Sachs Group dropped their price target on PerkinElmer from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. Finally, Citigroup dropped their target price on PerkinElmer from $185.00 to $170.00 in a research report on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.13.

PerkinElmer Stock Up 0.1 %

PKI opened at $154.23 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.94 and a quick ratio of 1.43. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 0.47 and a beta of 1.12. The business has a 50-day moving average of $144.73 and a two-hundred day moving average of $159.46. PerkinElmer has a 12 month low of $130.65 and a 12 month high of $203.16.

PerkinElmer (NYSE:PKIGet Rating) last posted its quarterly earnings results on Monday, August 1st. The medical research company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.01 by $0.31. PerkinElmer had a return on equity of 16.72% and a net margin of 13.21%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $2.83 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, research analysts expect that PerkinElmer will post 7.3 earnings per share for the current year.

Insider Transactions at PerkinElmer

In other news, insider Andrew Okun sold 3,173 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $165.42, for a total value of $524,877.66. Following the completion of the transaction, the insider now owns 6,391 shares of the company’s stock, valued at $1,057,199.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Daniel R. Tereau sold 5,700 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the transaction, the insider now owns 13,380 shares of the company’s stock, valued at $1,941,973.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Okun sold 3,173 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $165.42, for a total value of $524,877.66. Following the transaction, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,898 shares of company stock valued at $2,083,263. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PerkinElmer

Several hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund lifted its holdings in shares of PerkinElmer by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 17,386 shares of the medical research company’s stock valued at $3,496,000 after purchasing an additional 64 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of PerkinElmer by 4.1% during the second quarter. D.A. Davidson & CO. now owns 1,647 shares of the medical research company’s stock valued at $234,000 after purchasing an additional 65 shares during the last quarter. Covestor Ltd lifted its holdings in shares of PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 72 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of PerkinElmer by 1.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,075 shares of the medical research company’s stock valued at $1,221,000 after purchasing an additional 77 shares during the last quarter. Finally, Occidental Asset Management LLC lifted its holdings in shares of PerkinElmer by 1.0% during the second quarter. Occidental Asset Management LLC now owns 8,114 shares of the medical research company’s stock valued at $1,154,000 after purchasing an additional 77 shares during the last quarter. 89.27% of the stock is owned by hedge funds and other institutional investors.

PerkinElmer Company Profile

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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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