Raymond James initiated coverage on shares of PerkinElmer (NYSE:PKI) in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage issued an outperform rating on the medical research company’s stock.
PKI has been the subject of several other research reports. Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the stock a buy rating in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Icon from a hold rating to a buy rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. Goldman Sachs Group cut shares of TerraForm Power from a neutral rating to a sell rating and set a $12.00 price objective for the company. in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Finally, Wolfe Research began coverage on shares of Waters in a research report on Thursday, May 30th. They set an underperform rating for the company. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $81.32.
Shares of PerkinElmer stock opened at $95.18 on Wednesday. The company has a 50-day simple moving average of $92.90. The company has a market capitalization of $10.63 billion, a PE ratio of 26.37, a PEG ratio of 1.70 and a beta of 1.26. PerkinElmer has a 52-week low of $71.83 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.68.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.29%. PerkinElmer’s dividend payout ratio is 7.76%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC acquired a new position in PerkinElmer during the first quarter worth about $25,000. Financial Gravity Wealth Inc. acquired a new position in PerkinElmer during the first quarter worth about $52,000. Captrust Financial Advisors raised its stake in PerkinElmer by 163.9% during the fourth quarter. Captrust Financial Advisors now owns 673 shares of the medical research company’s stock worth $53,000 after acquiring an additional 418 shares in the last quarter. Signaturefd LLC raised its stake in PerkinElmer by 171.5% during the first quarter. Signaturefd LLC now owns 809 shares of the medical research company’s stock worth $78,000 after acquiring an additional 511 shares in the last quarter. Finally, Hilton Capital Management LLC acquired a new position in PerkinElmer during the first quarter worth about $82,000. 95.45% of the stock is owned by hedge funds and other institutional investors.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in 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 laboratory services.
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