PerkinElmer, Inc. (NYSE:PKI) declared a quarterly dividend on Wednesday, October 24th, RTT News reports. Shareholders of record on Friday, January 18th will be paid a dividend of 0.07 per share by the medical research company on Friday, February 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 17th.
PerkinElmer has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect PerkinElmer to earn $4.03 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 6.9%.
Shares of PKI opened at $83.51 on Friday. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 1.64 and a beta of 1.11. PerkinElmer has a 12 month low of $70.74 and a 12 month high of $98.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.18 and a current ratio of 1.70.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 2,000 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $82.12, for a total transaction of $164,240.00. Following the sale, the director now directly owns 1,661 shares of the company’s stock, valued at approximately $136,401.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexis P. Michas sold 5,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $90.95, for a total transaction of $454,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $1,609,550 in the last quarter. Insiders own 2.10% of the company’s stock.
Several research firms recently commented on PKI. Morgan Stanley boosted their price target on PerkinElmer from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. UBS Group began coverage on PerkinElmer in a research note on Tuesday, October 9th. They issued a “neutral” rating and a $100.00 price target on the stock. Janney Montgomery Scott lowered PerkinElmer from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. CIBC reissued an “average” rating and issued a $44.50 price objective on shares of PerkinElmer in a report on Thursday. Finally, Needham & Company LLC began coverage on PerkinElmer in a report on Wednesday, January 2nd. They issued a “hold” rating and a $79.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. PerkinElmer presently has an average rating of “Hold” and an average price target of $82.90.
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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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