PerkinElmer (PKI) Announces Earnings Results

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.

WARNING: This piece of content was originally reported by Modern Readers and is the sole property of of Modern Readers. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.modernreaders.com/news/2019/04/26/perkinelmer-pki-announces-earnings-results.html.

About PerkinElmer

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.

Featured Story: What is a recession?

Earnings History for PerkinElmer (NYSE:PKI)

Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.