PerkinElmer, Inc. (NYSE:PKI) declared a quarterly dividend on Monday, July 24th, RTT News reports. Shareholders of record on Friday, October 20th will be given a dividend of 0.07 per share by the medical research company on Friday, November 10th. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, October 19th.
PerkinElmer has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Analysts expect PerkinElmer to earn $3.24 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.6%.
PerkinElmer (NYSE:PKI) traded down 0.30% on Friday, reaching $63.47. The company’s stock had a trading volume of 403,207 shares. The stock has a market cap of $7.00 billion, a PE ratio of 19.14 and a beta of 0.75. PerkinElmer has a 12-month low of $45.35 and a 12-month high of $70.16. The company’s 50 day moving average price is $66.79 and its 200-day moving average price is $61.18.
PerkinElmer (NYSE:PKI) last posted its earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.67. The business had revenue of $547 million during the quarter, compared to analyst estimates of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. On average, equities analysts expect that PerkinElmer will post $2.89 EPS for the current year.
In related news, Director Peter Barrett sold 10,000 shares of PerkinElmer stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total transaction of $632,200.00. Following the transaction, the director now directly owns 29,200 shares in the company, valued at $1,846,024. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Okun sold 4,358 shares of PerkinElmer stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the transaction, the insider now owns 16,799 shares in the company, valued at $1,091,935. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
PKI has been the subject of a number of research analyst reports. Piper Jaffray Companies lifted their target price on PerkinElmer to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 target price (up previously from $73.00) on shares of PerkinElmer in a report on Monday, July 10th. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, August 1st. Evercore ISI restated an “in-line” rating and issued a $68.00 price target (up from $62.50) on shares of PerkinElmer in a research note on Thursday, June 22nd. Finally, Citigroup Inc. raised their price target on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. PerkinElmer has a consensus rating of “Hold” and a consensus price target of $67.00.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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