PerkinElmer, Inc. (NYSE:PKI – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for shares of PerkinElmer in a research note issued to investors on Wednesday, May 4th. Jefferies Financial Group analyst B. Couillard now anticipates that the medical research company will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.41. Jefferies Financial Group also issued estimates for PerkinElmer’s FY2022 earnings at $7.35 EPS, Q1 2023 earnings at $1.66 EPS, Q2 2023 earnings at $1.77 EPS, Q3 2023 earnings at $1.72 EPS, Q4 2023 earnings at $1.94 EPS and FY2023 earnings at $7.10 EPS.
A number of other research firms have also recently weighed in on PKI. Robert W. Baird lowered their target price on shares of PerkinElmer from $216.00 to $198.00 in a research note on Wednesday. Citigroup decreased their price target on shares of PerkinElmer from $185.00 to $170.00 in a research note on Wednesday. Finally, StockNews.com began coverage on shares of PerkinElmer in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $165.64.
Shares of PKI stock opened at $147.92 on Friday. PerkinElmer has a 1 year low of $134.56 and a 1 year high of $203.16. The firm has a fifty day moving average price of $167.21 and a 200-day moving average price of $176.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 0.48 and a beta of 1.16. PerkinElmer (NYSE:PKI – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The medical research company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.29. PerkinElmer had a net margin of 14.54% and a return on equity of 19.81%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $3.72 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the business. Capital Research Global Investors grew its stake in PerkinElmer by 3.9% in the 4th quarter. Capital Research Global Investors now owns 13,082,180 shares of the medical research company’s stock worth $2,630,283,000 after acquiring an additional 492,434 shares in the last quarter. BlackRock Inc. grew its stake in PerkinElmer by 12.8% in the 4th quarter. BlackRock Inc. now owns 8,394,690 shares of the medical research company’s stock worth $1,687,835,000 after acquiring an additional 953,169 shares in the last quarter. State Street Corp grew its stake in PerkinElmer by 13.0% in the 4th quarter. State Street Corp now owns 5,065,241 shares of the medical research company’s stock worth $1,018,417,000 after acquiring an additional 583,525 shares in the last quarter. Pictet Asset Management SA grew its stake in PerkinElmer by 3.0% in the 4th quarter. Pictet Asset Management SA now owns 3,371,250 shares of the medical research company’s stock worth $677,824,000 after acquiring an additional 97,866 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in PerkinElmer by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 2,334,412 shares of the medical research company’s stock worth $468,177,000 after acquiring an additional 278,635 shares in the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.
In related news, insider Daniel R. Tereau sold 6,696 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $165.84, for a total transaction of $1,110,464.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 22nd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, July 21st. PerkinElmer’s dividend payout ratio is 4.58%.
PerkinElmer Company Profile (Get Rating)
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.
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