There’s Still Time to Buy PerkinElmer Inc. (NYSE:PKI) Stock

In yesterday’s Wall Street session, PerkinElmer Inc. (NYSE:PKI) shares traded at $133.53, down -3.80% from the previous session.

13 analysts cover PerkinElmer Inc. (NYSE:PKI), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $178.00 and a low of $140.00, we find $161.50. Given the previous closing price of $138.81, this indicates a potential upside of 16.35 percent. PKI stock price is now -3.09% away from the 50-day moving average and -6.76% away from the 200-day moving average. The market capitalization of the company currently stands at $17.53B.

The stock has received a hold rating from 8 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $158.00 as their price target over the next twelve months.

With the price target maintained at $170, KeyBanc Capital Markets recently Upgraded its rating from Sector Weight to Overweight for PerkinElmer Inc. (NYSE: PKI). On December 12, 2022, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $135 to quote $170, while ‘Cowen’ rates the stock as ‘Outperform’.

In other news, Vohra Tajinder S, insider sold 1,663 shares of the company’s stock on Dec 22. The stock was sold for $233,071 at an average price of $140.15. Upon completion of the transaction, the insider now directly owns 17,205 shares in the company, valued at $2.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 21, Please See Remarks Singh Prahlad R. sold 14,187 shares of the business’s stock. A total of $1,993,554 was realized by selling the stock at an average price of $140.52. This leaves the insider owning 48,282 shares of the company worth $6.45 million. Insiders disposed of 54,783 shares of company stock worth roughly $7.32 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in PKI stock. A new stake in PerkinElmer Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $1,829,953,000. PENDAL GROUP LTD invested $76,934,000 in shares of PKI during the first quarter. In the first quarter, CITADEL ADVISORS LLC acquired a new stake in PerkinElmer Inc. valued at approximately $19,795,000. NORTH GROWTH MANAGEMENT LTD. acquired a new stake in PKI for approximately $7,344,000. WORLDQUANT MILLENNIUM ADVISORS LLC purchased a new stake in PKI valued at around $6,227,000 in the second quarter. In total, there are 876 active investors with 88.40% ownership of the company’s stock.

On Friday morning PerkinElmer Inc. (NYSE: PKI) stock kicked off with the opening price of $140.53. During the past 12 months, PerkinElmer Inc. has had a low of $113.46 and a high of $190.56. As of last week, the company has a debt-to-equity ratio of 0.62, a current ratio of 2.10, and a quick ratio of 1.80. The fifty day moving average price for PKI is $137.73 and a two-hundred day moving average price translates $142.95 for the stock.

The latest earnings results from PerkinElmer Inc. (NYSE: PKI) was released for Jul, 2022. According to the Diagnostics & Research Company, earnings per share came in at $2.32, beating analysts’ expectations of $2.02 by 0.3. This compares to $0.17 EPS in the same period last year. The net profit margin was 13.80% and return on equity was 8.80% for PKI. The company reported revenue of $711.8 million for the quarter, compared to $861.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -17.36 percent. For the current quarter, analysts expect PKI to generate $1.01B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 02/10/2023. Investors who held shares on 01/20/2023 were paid a $0.07 dividend. On an annualized basis, this represents a $0.28 dividend and a 0.21% percent yield. There was an ex-dividend date of 01/19/2023 for this dividend. In terms of dividend payout ratio, PKI is presently at 5.60%.

PerkinElmer Inc.(PKI) Company Profile

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. It also provides analytical technologies, solutions, and services for the environmental, food, and industrial markets that enable its customers to understand the characterize the health of various aspects, including air, water, and soil. In addition, this segment offers solutions to farmers and food producers; and analytical instrumentation for the industrial market, which includes the chemical, semiconductor and electronics, energy, lubricant, petrochemical, and polymer industries. The Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market. Its products are used for testing and screening genetic abnormalities, disorders, and diseases, including down syndrome, hypothyroidism, muscular dystrophy, infertility, and various metabolic conditions. This segment also develops technologies that enable and support genomic workflows using protein coupled receptor and next-generation DNA sequencing for applications in oncology, immunodiagnostics, and drug discovery. It serves pharmaceutical and biotechnology companies, laboratories, academic and research institutions, public health authorities, private healthcare organizations, doctors, and government agencies. PerkinElmer, Inc. was founded in 1937 and is headquartered in Waltham, Massachusetts.