Barclays Maintains PerkinElmer to Underweight with Price Target $52.00

Brokerage firm Barclays Maintains its rating on PerkinElmer(NYSE:PKI). In a research note issued to the investors, the brokerage major Raises the price-target to $52.00 per share. The shares have been rated Underweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Aug 5, 2016, Mizuho Securities said it Downgrades its rating on PerkinElmer. The shares have been rated ‘Neutral’ by the firm. On Jul 22, 2016, BTIG Research said it Assumes its rating on PerkinElmer. The shares have been rated ‘Neutral’ by the firm.

PerkinElmer (PKI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.37% or 0.2 points. Due to strong positive momentum, the stock ended at $54.91, which is also near the day’s high of $55.09. The stock began the session at $54.68 and the volume stood at 5,67,325 shares. The 52-week high of the shares is $57.28 and the 52 week low is $39.5. The company has a current market capitalization of $6,007 M and it has 10,94,01,961 shares in outstanding.

PerkinElmer has also declared a cash dividend of $0.0700 on Jul 27, 2016. The shares will quote ex-dividend on Oct 12, 2016 and the record date has been fixed on Oct 14, 2016. The dividend payable date has been fixed on Nov 10, 2016.

PerkinElmer(PKI) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $572.84M. Analysts had an estimated revenue of $574.82M. Earnings per share were $0.67. Analysts had estimated an EPS of $0.66.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Alexis P Michas (director) sold 1,953 shares at $54.85 per share price.Also, On May 26, 2016, Robert F Friel (President and CEO) sold 128,300 shares at $55.01 per share price.On May 12, 2016, Vicki L Sato (director) sold 12,586 shares at $54.27 per share price, according to the Form-4 filing with the securities and exchange commission.

PerkinElmer Inc. is a provider of products services and solutions to the diagnostics research environmental industrial and laboratory services markets. The Company operates its business in two segments: Human Health and Environmental Health. The Company’s Human Health segment concentrates on developing diagnostics tools and applications to help detect diseases earlier and more accurately and to accelerate the discovery and development of new therapies. The Company’s Environmental Health segment provides products services and solutions to facilitate the creation of safer food and consumer products more secure surroundings and efficient energy resources. The Company markets its products and services in more than 150 countries.

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