PerkinElmer, Inc. (NYSE:PKI) Short Interest Update

PerkinElmer, Inc. (NYSE:PKI) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totalling 2,790,000 shares, a growth of 13.4% from the May 14th total of 2,460,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.5% of the shares of the company are short sold.

A number of equities analysts recently weighed in on PKI shares. Stifel Nicolaus reduced their price target on PerkinElmer from $102.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Cfra reduced their target price on PerkinElmer from $100.00 to $94.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. UBS Group increased their target price on PerkinElmer from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Investment Research raised PerkinElmer from a “sell” rating to a “hold” rating and set a $105.00 target price for the company in a report on Thursday, May 28th. Finally, Wells Fargo & Co reduced their target price on PerkinElmer from $100.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PerkinElmer has an average rating of “Hold” and a consensus target price of $85.06.

In related news, Director Peter Barrett sold 7,552 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $100.11, for a total value of $756,030.72. Following the completion of the transaction, the director now owns 29,552 shares of the company’s stock, valued at approximately $2,958,450.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors grew its position in PerkinElmer by 13.2% in the fourth quarter. Capital Research Global Investors now owns 11,855,242 shares of the medical research company’s stock worth $1,151,144,000 after acquiring an additional 1,379,053 shares during the period. BlackRock Inc. grew its position in PerkinElmer by 0.7% in the first quarter. BlackRock Inc. now owns 7,143,952 shares of the medical research company’s stock worth $537,797,000 after acquiring an additional 53,093 shares during the period. Janus Henderson Group PLC grew its position in PerkinElmer by 5.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,535,183 shares of the medical research company’s stock worth $634,566,000 after acquiring an additional 337,204 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of PerkinElmer by 11.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,955,771 shares of the medical research company’s stock worth $481,206,000 after buying an additional 498,039 shares during the period. Finally, State Street Corp boosted its position in shares of PerkinElmer by 1.5% during the first quarter. State Street Corp now owns 4,495,084 shares of the medical research company’s stock worth $338,390,000 after buying an additional 64,686 shares during the period. Institutional investors own 93.46% of the company’s stock.

Shares of NYSE:PKI traded up $0.63 during midday trading on Friday, hitting $97.14. The company had a trading volume of 947,276 shares, compared to its average volume of 932,844. PerkinElmer has a twelve month low of $62.91 and a twelve month high of $105.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.84 and a quick ratio of 1.30. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 3.22 and a beta of 1.37. The business’s 50-day simple moving average is $94.57 and its 200-day simple moving average is $90.50.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Tuesday, May 5th. The medical research company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.54 by $0.13. PerkinElmer had a return on equity of 16.52% and a net margin of 7.82%. The firm had revenue of $652.40 million during the quarter, compared to analysts’ expectations of $634.46 million. During the same quarter last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that PerkinElmer will post 3.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be given a $0.07 dividend. The ex-dividend date is Thursday, July 16th. This represents a $0.28 annualized dividend and a yield of 0.29%. PerkinElmer’s payout ratio is 6.83%.

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.

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