PerkinElmer, Inc. (NYSE:PKI) - Stock analysts at Jefferies Group upped their FY2017 earnings per share estimates for shares of PerkinElmer in a note issued to investors on Tuesday. Jefferies Group analyst B. Couillard now expects that the medical research company will post earnings per share of $2.89 for the year, up from their prior estimate of $2.86. Jefferies Group currently has a “Hold” rating and a $69.00 price target on the stock. Jefferies Group also issued estimates for PerkinElmer’s Q4 2017 earnings at $0.95 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.98 EPS and FY2018 earnings at $3.50 EPS.
PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The company had revenue of $547 million during the quarter, compared to the consensus estimate of $554.14 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. PerkinElmer’s revenue for the quarter was up 2.0% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “PerkinElmer, Inc. Expected to Post FY2017 Earnings of $2.89 Per Share (PKI)” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/08/24/perkinelmer-inc-expected-to-post-fy2017-earnings-of-2-89-per-share-pki.html.
PKI has been the subject of a number of other research reports. Piper Jaffray Companies increased their price objective on shares of PerkinElmer to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Morgan Stanley restated an “overweight” rating and issued a $79.00 price objective (up previously from $73.00) on shares of PerkinElmer in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, August 1st. Evercore ISI restated an “in-line” rating and issued a $68.00 price objective (up previously from $62.50) on shares of PerkinElmer in a research note on Thursday, June 22nd. Finally, Citigroup Inc. increased their price objective on shares of PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $67.00.
PerkinElmer (NYSE PKI) opened at 65.03 on Thursday. The firm has a market cap of $7.17 billion, a P/E ratio of 19.61 and a beta of 0.75. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $70.16. The firm has a 50-day moving average of $66.56 and a 200 day moving average of $61.48.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s payout ratio is 8.46%.
In other news, insider Andrew Okun sold 4,358 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the sale, the insider now owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Barrett sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the completion of the sale, the director now directly owns 29,200 shares in the company, valued at approximately $1,846,024. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of PKI. Bank of Montreal Can raised its stake in shares of PerkinElmer by 5.3% in the first quarter. Bank of Montreal Can now owns 32,798 shares of the medical research company’s stock worth $1,904,000 after buying an additional 1,648 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of PerkinElmer by 2.2% in the first quarter. Retirement Systems of Alabama now owns 53,068 shares of the medical research company’s stock worth $3,081,000 after buying an additional 1,147 shares in the last quarter. Waldron LP bought a new stake in shares of PerkinElmer during the first quarter worth approximately $233,000. ProShare Advisors LLC raised its stake in shares of PerkinElmer by 2.0% in the first quarter. ProShare Advisors LLC now owns 40,715 shares of the medical research company’s stock worth $2,364,000 after buying an additional 799 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of PerkinElmer by 5,367.6% in the first quarter. Acadian Asset Management LLC now owns 17,879 shares of the medical research company’s stock worth $1,038,000 after buying an additional 17,552 shares in the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
About PerkinElmer
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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