PerkinElmer (NYSE:PKI) Coverage Initiated by Analysts at Raymond James

Raymond James assumed coverage on shares of PerkinElmer (NYSE:PKI) in a research note released on Wednesday morning, Stock Target Advisor reports. The firm issued an outperform rating on the medical research company’s stock.

PKI has been the topic of a number of other reports. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They issued an underperform rating on the stock. Zacks Investment Research upgraded Icon from a hold rating to a buy rating and set a $157.00 target price on the stock in a report on Thursday, May 30th. Royal Bank of Canada set a $60.00 target price on Masonite International and gave the stock a buy rating in a report on Friday, May 3rd. Finally, Goldman Sachs Group cut TerraForm Power from a neutral rating to a sell rating and set a $12.00 target price on the stock. in a report on Tuesday, April 9th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $81.32.

PerkinElmer stock opened at $95.18 on Wednesday. The company has a market cap of $10.63 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.70 and a beta of 1.26. PerkinElmer has a 52-week low of $71.83 and a 52-week high of $103.00. The stock’s 50 day simple moving average is $92.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.17.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. PerkinElmer had a return on equity of 15.98% and a net margin of 8.89%. The firm had revenue of $648.70 million for the quarter, compared to analysts’ expectations of $645.38 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts expect that PerkinElmer will post 4.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, July 18th. PerkinElmer’s payout ratio is currently 7.76%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in PerkinElmer by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,522,499 shares of the medical research company’s stock valued at $119,450,000 after buying an additional 124,168 shares during the last quarter. FMR LLC raised its position in PerkinElmer by 0.8% in the 1st quarter. FMR LLC now owns 1,233,993 shares of the medical research company’s stock valued at $118,907,000 after buying an additional 10,020 shares during the last quarter. Northern Trust Corp raised its position in PerkinElmer by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,082,136 shares of the medical research company’s stock valued at $104,274,000 after buying an additional 13,212 shares during the last quarter. Norges Bank purchased a new stake in PerkinElmer in the 4th quarter valued at $66,531,000. Finally, Dimensional Fund Advisors LP raised its position in PerkinElmer by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 720,855 shares of the medical research company’s stock valued at $56,618,000 after buying an additional 13,568 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in 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 laboratory services.

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Analyst Recommendations for PerkinElmer (NYSE:PKI)

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