PerkinElmer (NYSE:PKI) Updates FY 2022 Earnings Guidance

PerkinElmer (NYSE:PKIGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.80-$7.90 for the period, compared to the consensus earnings per share estimate of $7.33. The company issued revenue guidance of $4.60 billion-$4.64 billion, compared to the consensus revenue estimate of $4.58 billion. PerkinElmer also updated its Q3 2022 guidance to $1.40-$1.45 EPS.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America cut shares of PerkinElmer from a buy rating to a neutral rating and set a $178.00 price objective on the stock. in a research report on Tuesday. Barclays lifted their price objective on shares of PerkinElmer from $125.00 to $149.00 and gave the stock an underweight rating in a research report on Tuesday. UBS Group started coverage on shares of PerkinElmer in a research report on Wednesday, July 20th. They set a buy rating and a $160.00 price objective on the stock. The Goldman Sachs Group lowered their price target on shares of PerkinElmer from $200.00 to $175.00 and set a neutral rating on the stock in a report on Thursday, July 14th. Finally, Robert W. Baird boosted their price target on shares of PerkinElmer from $198.00 to $202.00 and gave the company an outperform rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $161.13.

PerkinElmer Stock Up 0.5 %

NYSE:PKI traded up $0.77 during trading hours on Friday, reaching $153.72. The company’s stock had a trading volume of 584,760 shares, compared to its average volume of 823,757. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.12. PerkinElmer has a one year low of $130.65 and a one year high of $203.16. The business’s 50-day moving average is $144.81 and its 200-day moving average is $159.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.94 and a quick ratio of 1.43.

PerkinElmer (NYSE:PKIGet Rating) last issued its quarterly earnings data on Monday, August 1st. The medical research company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.31. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.72%. PerkinElmer’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.83 earnings per share. Equities research analysts predict that PerkinElmer will post 7.83 EPS for the current year.

PerkinElmer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Friday, October 21st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Thursday, October 20th. PerkinElmer’s dividend payout ratio is presently 5.24%.

Insider Buying and Selling

In other PerkinElmer news, insider Andrew Okun sold 3,173 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the completion of the transaction, the insider now owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PerkinElmer news, insider Daniel R. Tereau sold 5,700 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total transaction of $827,298.00. Following the completion of the transaction, the insider now owns 13,380 shares of the company’s stock, valued at approximately $1,941,973.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Okun sold 3,173 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $165.42, for a total transaction of $524,877.66. Following the transaction, the insider now directly owns 6,391 shares of the company’s stock, valued at approximately $1,057,199.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,898 shares of company stock worth $2,083,263. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Covestor Ltd raised its position in shares of PerkinElmer by 25.1% during the first quarter. Covestor Ltd now owns 359 shares of the medical research company’s stock valued at $63,000 after buying an additional 72 shares during the last quarter. D.A. Davidson & CO. raised its position in PerkinElmer by 5.3% in the first quarter. D.A. Davidson & CO. now owns 1,582 shares of the medical research company’s stock worth $276,000 after purchasing an additional 80 shares in the last quarter. US Bancorp DE raised its position in PerkinElmer by 2.0% in the first quarter. US Bancorp DE now owns 4,572 shares of the medical research company’s stock worth $798,000 after purchasing an additional 89 shares in the last quarter. Raymond James Trust N.A. raised its position in PerkinElmer by 7.0% in the first quarter. Raymond James Trust N.A. now owns 1,705 shares of the medical research company’s stock worth $297,000 after purchasing an additional 111 shares in the last quarter. Finally, Guardian Wealth Management Inc. raised its position in PerkinElmer by 1.3% in the first quarter. Guardian Wealth Management Inc. now owns 10,619 shares of the medical research company’s stock worth $1,853,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.

PerkinElmer Company Profile

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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