PerkinElmer (NYSE:PKI) issued its earnings results on Thursday. The medical research company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03, Bloomberg Earnings reports. PerkinElmer had a net margin of 8.56% and a return on equity of 15.89%. The firm had revenue of $648.70 million for the quarter, compared to analysts’ expectations of $645.38 million. During the same quarter last year, the company posted $0.63 earnings per share. PerkinElmer’s revenue was up .7% on a year-over-year basis. PerkinElmer updated its FY19 guidance to $4.02-4.07 EPS.
Shares of PKI traded up $0.56 during mid-day trading on Thursday, reaching $95.08. 912,614 shares of the company’s stock traded hands, compared to its average volume of 595,817. The stock has a market cap of $10.51 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.25. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73. PerkinElmer has a 12 month low of $70.83 and a 12 month high of $103.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.29%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.76%.
In other news, insider Prahlad R. Singh sold 3,289 shares of PerkinElmer stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $102.39, for a total transaction of $336,760.71. Following the sale, the insider now owns 28,242 shares of the company’s stock, valued at $2,891,698.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joel S. Goldberg sold 24,465 shares of PerkinElmer stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $92.81, for a total value of $2,270,596.65. Following the sale, the insider now directly owns 84,277 shares in the company, valued at approximately $7,821,748.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,475 shares of company stock worth $5,910,744. Corporate insiders own 1.80% of the company’s stock.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Goldman Sachs Group raised shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, April 9th. UBS Group set a $92.00 target price on shares of PerkinElmer and gave the stock a “hold” rating in a report on Saturday, February 2nd. Piper Jaffray Companies raised their target price on shares of PerkinElmer to $104.00 and gave the stock an “overweight” rating in a report on Friday, February 1st. Finally, Desjardins reissued an “average” rating and issued a $45.00 target price on shares of PerkinElmer in a report on Wednesday, January 16th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PerkinElmer has an average rating of “Hold” and a consensus target price of $85.06.
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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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