PerkinElmer (PKI) Releases Earnings Results, Beats Expectations By $0.05 EPS

PerkinElmer (PKI) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.56 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.51. The company posted revenue of $538.70 million in the period, compared to analysts expectations of $532.71 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on PerkinElmer. PerkinElmer was Downgraded by BofA/Merrill to ” Neutral” on Apr 5, 2016. Barclays Initiated PerkinElmer on Mar 1, 2016 to “Underweight”, Price Target of the shares are set at $46.

PerkinElmer closed down -1.18 points or -2.30% at $50.23 with 7,22,481 shares getting traded on Wednesday. Post opening the session at $51.045, the shares hit an intraday low of $50.12 and an intraday high of $51.2 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 19, 2016, Daniel R Tereau (officer ) sold 2,158 shares at $50.79 per share price. According to the SEC, on Mar 23, 2016, James Corbett (officer ) sold 1,723 shares at $48.74 per share price. On Feb 26, 2016, Alexis P Michas (director) sold 10,000 shares at $47.56 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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