Brokerages forecast that PerkinElmer, Inc. (NYSE:PKI) will announce sales of $693.77 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for PerkinElmer’s earnings. The highest sales estimate is $696.46 million and the lowest is $690.00 million. PerkinElmer posted sales of $546.96 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.80 billion for the current financial year, with estimates ranging from $2.80 billion to $2.83 billion. For the next year, analysts expect that the firm will report sales of $2.96 billion per share, with estimates ranging from $2.88 billion to $3.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Monday, April 30th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. PerkinElmer had a return on equity of 13.26% and a net margin of 11.73%. The business had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $618.97 million. During the same period in the prior year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 0 compared to the same quarter last year.
Several research firms have recently weighed in on PKI. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, May 24th. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Robert W. Baird reduced their target price on PerkinElmer from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 1st. Morgan Stanley boosted their target price on PerkinElmer from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, May 1st. Finally, Bank of America reduced their target price on PerkinElmer from $86.00 to $83.00 and set a “hold” rating for the company in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $77.49.
Shares of PerkinElmer traded up $0.74, hitting $74.40, on Wednesday, Marketbeat Ratings reports. The stock had a trading volume of 351,100 shares, compared to its average volume of 648,338. PerkinElmer has a 52-week low of $62.43 and a 52-week high of $84.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 1.33. The company has a market capitalization of $8.22 billion, a P/E ratio of 25.73, a PEG ratio of 1.70 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 20th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, July 19th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.
In other news, insider Frank Anders Wilson sold 103,656 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $73.94, for a total transaction of $7,664,324.64. Following the completion of the transaction, the insider now directly owns 93,624 shares of the company’s stock, valued at approximately $6,922,558.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nicholas A. Lopardo sold 4,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $74.92, for a total value of $299,680.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,812 shares of company stock valued at $8,053,017. Company insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in shares of PerkinElmer by 555,238.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 116,621 shares of the medical research company’s stock worth $8,527,000 after buying an additional 116,600 shares in the last quarter. W. E. Donoghue & Co. LLC purchased a new position in shares of PerkinElmer during the 4th quarter worth approximately $2,676,000. Bank of New York Mellon Corp raised its stake in shares of PerkinElmer by 8.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,007,210 shares of the medical research company’s stock worth $73,647,000 after buying an additional 74,735 shares in the last quarter. Swiss National Bank raised its stake in shares of PerkinElmer by 2.0% during the 4th quarter. Swiss National Bank now owns 187,700 shares of the medical research company’s stock worth $13,725,000 after buying an additional 3,700 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of PerkinElmer by 6.4% during the 4th quarter. State of Wisconsin Investment Board now owns 25,799 shares of the medical research company’s stock worth $1,886,000 after buying an additional 1,544 shares in the last quarter. 93.71% of the stock is owned by institutional investors and hedge funds.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment develops and offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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