Todays Report: The Brokerages Set PerkinElmer Inc. (NYSE:PKI) Target Price at $55.00

The Brokerages Set PerkinElmer Inc. (NYSE:PKI) Target Price at $55.00

PerkinElmer Inc. (NYSE:PKI) has been given a consensus rating of “Hold” by the seventeen analysts that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $55.00.

PKI has been the topic of several research analyst reports. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Thursday, July 21st. Morgan Stanley set a $61.00 price target on PerkinElmer and gave the stock a “buy” rating in a research note on Friday, August 5th. Jefferies Group boosted their price target on PerkinElmer from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. BTIG Research reissued a “hold” rating on shares of PerkinElmer in a research note on Friday, August 5th. Finally, Mizuho lowered PerkinElmer from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research note on Friday, August 5th.

Shares of PerkinElmer (NYSE:PKI) opened at 55.70 on Wednesday. The stock has a market cap of $6.09 billion, a P/E ratio of 26.61 and a beta of 0.85. PerkinElmer has a 1-year low of $39.50 and a 1-year high of $57.28. The firm’s 50-day moving average price is $54.49 and its 200 day moving average price is $53.42.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.50%. PerkinElmer’s payout ratio is 13.33%.

In other news, insider Joel S. Goldberg sold 38,095 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $55.00, for a total transaction of $2,095,225.00. Following the completion of the sale, the insider now directly owns 96,299 shares in the company, valued at approximately $5,296,445. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel R. Tereau sold 18,866 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $52.00, for a total value of $981,032.00. Following the sale, the insider now owns 21,241 shares of the company’s stock, valued at $1,104,532. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. purchased a new stake in PerkinElmer during the second quarter worth approximately $278,000. Artemis Investment Management LLP increased its stake in PerkinElmer by 61.9% in the second quarter. Artemis Investment Management LLP now owns 332,703 shares of the company’s stock worth $17,442,000 after buying an additional 127,152 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in PerkinElmer by 9.4% in the second quarter. Nisa Investment Advisors LLC now owns 101,780 shares of the company’s stock worth $5,335,000 after buying an additional 8,780 shares during the last quarter. Capital Fund Management S.A. increased its stake in PerkinElmer by 876.0% in the second quarter. Capital Fund Management S.A. now owns 109,309 shares of the company’s stock worth $5,730,000 after buying an additional 98,109 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in PerkinElmer by 1.8% in the first quarter. Panagora Asset Management Inc. now owns 295,544 shares of the company’s stock worth $14,618,000 after buying an additional 5,313 shares during the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

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