The Vanguard Group, Inc. recently announced the acquisition of new stake in PerkinElmer Inc. (NYSE:PKI). The institutional investor has increased its shareholding in the Healthcare company by 0.06% to 12.09 million shares with purchase of 7465.0 shares. This fresh investment now brings its stake to 10.85% valued currently at $1.19 billion. In addition, Select Equity Group LP raised its holdings by 0.14 million to 5.82 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.46% or 64686.0 shares – to 4.5 million shares.
With over 1.58 million PerkinElmer Inc. (PKI) shares trading Wednesday and a closing price of $108.97 on the day, the dollar volume was approximately $172.09 million. The shares have shown a positive weekly performance of 6.41% and its price on 07/15/20 gained nearly 2.07%. Currently, there are 111.12M common shares owned by the public and among those 110.47M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for PKI have a consensus price objective of $99.08. The analysts have set the share’s price value over the next 12 months at a high of $126.00 and a low of $85.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PerkinElmer Inc. stock is 2.40 for the next 12 months. The average price target is -7.62% below its last price level and a downside to the estimated low will see the stock lose -28.2% over that period. But an upside of 13.52% will see the stock hit the forecast high price target while mean target price for the stock is $97.50.
Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 105,430 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 51,466 shares.
The top 3 mutual fund holders in PerkinElmer Inc. are T Rowe Price Capital Appreciation, American Funds AMCAP Fund, and Janus Henderson Enterprise Fund. T Rowe Price Capital Appreciation owns 11.18 million shares of the company’s stock, all valued at over $1.1 billion. The company sold -1.2 million shares recently to bring their total holdings to about 10.03% of the shares outstanding. American Funds AMCAP Fund bought 0.24 million shares to see its total holdings expand to 6.66 million shares valued at over $653.67 million and representing 5.98% of the shares outstanding. Janus Henderson Enterprise Fund now owns shares totaling to 3.97% of the shares outstanding.
Shares of PerkinElmer Inc. (NYSE: PKI) opened at $108.32, up $1.56 from a prior closing price of $106.76. However, the script later closed the day at $108.97, up 2.07%. The company’s stock has a 5-day price change of 6.41% and 38.37% over the past three months. PKI shares are trading 12.22% year to date (YTD), with the 12-month market performance up to 14.34% higher. It has a 12-month low price of $62.91 and touched a high of $107.09 over the same period. Currently, 1.58 million shares have been traded, compared to an average intraday trading volume of 948.33K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.86%, 11.71%, and 20.68% respectively.
Institutional ownership of PerkinElmer Inc. (NYSE: PKI) shares accounts for 92.80% of the company’s 111.12M shares outstanding. Mutual fund holders own 22.84%, while other institutional holders and individual stakeholders account for 70.01% and 2.37% respectively.
It has a market capitalization of $12.33B and a beta (3y monthly) value of 1.37. The stock’s trailing 12-month PE ratio is 53.42, while the earnings-per-share (ttm) stands at $2.04. The company has a PEG of 4.95 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.60% over the week and 2.43% over the month.
Analysts forecast that PerkinElmer Inc. (PKI) will achieve an EPS of $0.72 for the current quarter, $1.01 for the next quarter and $4.62 for 2021. The lowest estimate earnings-per-share for the quarter is $0.69 while analysts give the company a high EPS estimate of $0.82. Comparatively, EPS for the current quarter was $1 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.70%, and 20.47% over the next financial year. EPS should grow at an annualized rate of 10.80% over the next five years, compared to 7.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate PerkinElmer Inc. (PKI) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 8 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the PKI, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on January 08, 2020, with the firm’s price target at $105. Citigroup coverage for the PerkinElmer Inc. (PKI) stock in a research note released on January 07, 2020 offered a Neutral rating with a price target of $100. Evercore ISI was of a view on January 02, 2020 that the stock is Outperform, while Stifel gave the stock Buy rating on November 15, 2019, issuing a price target of. Piper Jaffray on their part issued Neutral rating on October 31, 2019.