PerkinElmer, Inc. (NYSE:PKI) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $55.44.
PKI has been the topic of several research reports. Zacks Investment Research upgraded shares of PerkinElmer from a “sell” rating to a “hold” rating in a report on Monday, December 5th. Cantor Fitzgerald set a $60.00 price target on shares of PerkinElmer and gave the stock a “buy” rating in a report on Sunday, December 25th. Deutsche Bank AG reiterated a “hold” rating and issued a $55.00 price target on shares of PerkinElmer in a report on Wednesday, January 18th. Bank of America Corp downgraded shares of PerkinElmer from a “neutral” rating to an “underperform” rating and set a $48.00 price target on the stock. in a report on Friday, February 3rd. Finally, BTIG Research reiterated a “hold” rating on shares of PerkinElmer in a report on Sunday, February 5th.
PerkinElmer (NYSE:PKI) traded up 0.89% during trading on Monday, hitting $58.03. 1,322,820 shares of the stock traded hands. The stock has a market cap of $6.37 billion, a P/E ratio of 27.26 and a beta of 0.80. PerkinElmer has a 52-week low of $45.35 and a 52-week high of $58.37. The stock has a 50 day moving average price of $55.16 and a 200-day moving average price of $53.34.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Friday, April 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. PerkinElmer’s payout ratio is 13.15%.
In other news, insider Joel S. Goldberg sold 30,710 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $55.45, for a total transaction of $1,702,869.50. Following the sale, the insider now owns 91,768 shares of the company’s stock, valued at approximately $5,088,535.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Okun sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $57.27, for a total transaction of $171,810.00. Following the sale, the insider now directly owns 12,441 shares in the company, valued at approximately $712,496.07. The disclosure for this sale can be found here. Insiders have sold a total of 68,972 shares of company stock worth $3,789,481 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its stake in shares of PerkinElmer by 13.6% in the third quarter. Public Employees Retirement Association of Colorado now owns 213,881 shares of the company’s stock worth $12,001,000 after buying an additional 25,653 shares during the last quarter. Sit Investment Associates Inc. raised its position in shares of PerkinElmer by 1.2% in the third quarter. Sit Investment Associates Inc. now owns 15,100 shares of the company’s stock worth $847,000 after buying an additional 175 shares during the period. Mutual of America Capital Management LLC raised its position in shares of PerkinElmer by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 31,267 shares of the company’s stock worth $1,754,000 after buying an additional 4,549 shares during the period. Nordea Investment Management AB raised its position in shares of PerkinElmer by 58.7% in the third quarter. Nordea Investment Management AB now owns 2,429 shares of the company’s stock worth $136,000 after buying an additional 898 shares during the period. Finally, Rothschild Asset Management Inc. raised its position in shares of PerkinElmer by 37.5% in the third quarter. Rothschild Asset Management Inc. now owns 289,339 shares of the company’s stock worth $16,235,000 after buying an additional 78,969 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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