Equities research analysts expect that PerkinElmer, Inc. (NYSE:PKI) will post $615.80 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest sales estimate is $613.15 million and the highest is $619.70 million. PerkinElmer reported sales of $566.77 million in the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that PerkinElmer will report full year sales of $615.80 million for the current financial year, with estimates ranging from $2.23 billion to $2.24 billion. For the next fiscal year, analysts expect that the business will report sales of $2.42 billion per share, with estimates ranging from $2.33 billion to $2.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PerkinElmer.
PKI has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Morgan Stanley lifted their price objective on shares of PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Jefferies Group reiterated a “hold” rating and issued a $70.00 price objective on shares of PerkinElmer in a research note on Friday, October 20th. Goldman Sachs Group reiterated a “neutral” rating and issued a $67.00 price objective on shares of PerkinElmer in a research note on Tuesday, September 26th. Finally, ValuEngine lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. PerkinElmer currently has an average rating of “Hold” and an average target price of $71.43.
Shares of PerkinElmer (PKI) opened at $76.94 on Friday. The firm has a market cap of $8,450.00, a price-to-earnings ratio of 34.81, a PEG ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.09. PerkinElmer has a one year low of $50.59 and a one year high of $77.01.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. PerkinElmer’s payout ratio is 12.67%.
In related news, insider Andrew Okun sold 12,680 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $72.00, for a total value of $912,960.00. Following the transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at approximately $1,808,712. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $73.18, for a total transaction of $365,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,336 shares of company stock valued at $6,114,917. Company insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board boosted its holdings in shares of PerkinElmer by 36.3% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock worth $6,502,000 after buying an additional 25,404 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of PerkinElmer by 59.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock worth $3,545,000 after buying an additional 19,464 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of PerkinElmer in the 3rd quarter worth about $1,673,000. Bessemer Group Inc. boosted its holdings in shares of PerkinElmer by 22.2% in the 3rd quarter. Bessemer Group Inc. now owns 27,149 shares of the medical research company’s stock worth $1,873,000 after buying an additional 4,936 shares during the last quarter. Finally, Sivik Global Healthcare LLC lifted its holdings in PerkinElmer by 12.5% during the third quarter. Sivik Global Healthcare LLC now owns 90,000 shares of the medical research company’s stock valued at $6,207,000 after purchasing an additional 10,000 shares during the last quarter. 91.37% of the stock is currently owned by institutional investors.
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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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