PerkinElmer (PKI) is Downgraded by Mizuho to Neutral, Price Target at $56

PerkinElmer (PKI) was Downgraded by Mizuho to ” Neutral” and the brokerage firm has set the Price Target at $56. Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, PerkinElmer reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.66. The company had revenue of $573.00 million for the quarter, compared to analysts expectations of $575.66 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

PerkinElmer closed down -0.03 points or -0.05% at $55.72 with 4,87,387 shares getting traded on Thursday. Post opening the session at $55.85, the shares hit an intraday low of $55.49 and an intraday high of $55.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Investors should note that on Jul 27, 2016, PerkinElmer announced a cash dividend of $0.0700. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Nov 10, 2016.

In a different news, on Jun 3, 2016, Alexis P Michas (director) sold 1,953 shares at $54.85 per share price. According to the SEC, 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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