Analysts predict that PerkinElmer, Inc. (NYSE:PKI) will report sales of $693.77 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for PerkinElmer’s earnings, with the lowest sales estimate coming in at $690.00 million and the highest estimate coming in at $696.46 million. PerkinElmer reported sales of $546.96 million in the same quarter last year, which indicates a positive year over year growth rate of 26.8%. The company is expected to announce its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that PerkinElmer will report full-year sales of $2.80 billion for the current year, with estimates ranging from $2.80 billion to $2.83 billion. For the next financial year, analysts expect that the firm will report sales of $2.96 billion per share, with estimates ranging from $2.88 billion to $3.03 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Monday, April 30th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. PerkinElmer had a return on equity of 13.26% and a net margin of 11.73%. The company had revenue of $644.00 million for the quarter, compared to analyst estimates of $618.97 million. During the same quarter last year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 0 compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered PerkinElmer from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded PerkinElmer from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Robert W. Baird reiterated a “buy” rating and issued a $88.00 price target on shares of PerkinElmer in a research note on Friday, January 26th. Barclays lifted their price target on PerkinElmer from $69.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Finally, Bank of America decreased their price target on PerkinElmer from $86.00 to $83.00 and set a “hold” rating on the stock in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $77.49.

Shares of PerkinElmer traded down $1.30, hitting $74.32, during midday trading on Wednesday, according to Marketbeat Ratings. The company’s stock had a trading volume of 461,264 shares, compared to its average volume of 610,885. PerkinElmer has a one year low of $62.43 and a one year high of $84.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 1.33. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.73 and a beta of 0.84.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 20th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. PerkinElmer’s dividend payout ratio is currently 9.66%.

In related news, insider Daniel R. Tereau sold 1,156 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $77.00, for a total transaction of $89,012.00. Following the sale, the insider now owns 6,784 shares in the company, valued at approximately $522,368. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Anders Wilson sold 103,656 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $73.94, for a total value of $7,664,324.64. Following the sale, the insider now owns 93,624 shares in the company, valued at approximately $6,922,558.56. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in shares of PerkinElmer by 0.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 279,809 shares of the medical research company’s stock valued at $21,187,000 after buying an additional 700 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of PerkinElmer by 17.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,016 shares of the medical research company’s stock valued at $367,000 after buying an additional 729 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of PerkinElmer by 8.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,838 shares of the medical research company’s stock valued at $744,000 after buying an additional 730 shares during the last quarter. Comerica Bank grew its position in shares of PerkinElmer by 3.0% in the 4th quarter. Comerica Bank now owns 26,881 shares of the medical research company’s stock valued at $2,189,000 after buying an additional 772 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of PerkinElmer by 53.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock valued at $170,000 after buying an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 93.71% of the company’s stock.

About PerkinElmer

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 develops and 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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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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