PerkinElmer Inc. [PKI] Revenue clocked in at $2.98 billion, up 30.88% YTD: What’s Next?

PerkinElmer Inc. [NYSE: PKI] gained 2.43% or 3.01 points to close at $127.08 with a heavy trading volume of 1011812 shares. The company report on October 26, 2020 that PerkinElmer Receives CE Mark for Multi-analyte Respiratory Panel Including COVID-19.

Company’s latest test enables differential diagnosis between COVID-19, flu and RSV infection .

PerkinElmer, Inc. (NYSE: PKI) announced today that its PKamp™ Respiratory SARS-CoV-2 RT-PCR Panel has received clearance to be marketed as an in vitro diagnostic (IVD) device in more than 30 countries by meeting the requirements of the European In Vitro Diagnostic Directive (IVDD). This test is currently under review by the U.S. FDA for Emergency Use Authorization (EUA). The multi-analyte panel enables labs to detect and differentiate between SARS-CoV-2, influenza A viruses, influenza B viruses and respiratory syncytial virus (RSV) in a single test, which will be critical to manage the surge in test demand during the flu season as the targeted pathogens have some similar signs and symptoms.

It opened the trading session at $124.00, the shares rose to $128.2352 and dropped to $123.5035, the range by which the price of stock traded the whole day. The daily chart for PKI points out that the company has recorded 40.08% gains over the past six months. However, it is still -102.0% lower than its most recent low trading price.

If we look at the average trading volume of 876.03K shares, PKI reached to a volume of 1011812 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about PerkinElmer Inc. [PKI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PKI shares is $128.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PKI stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for PerkinElmer Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 11, 2020. The new note on the price target was released on July 29, 2020, representing the official price target for PerkinElmer Inc. stock. Previously, the target price had yet another raise to $105, while Wells Fargo analysts kept a Equal Weight rating on PKI stock.

The Average True Range (ATR) for PerkinElmer Inc. is set at 3.30, with the Price to Sales ratio for PKI stock in the period of the last 12 months amounting to 4.80. The Price to Book ratio for the last quarter was 4.77, with the Price to Cash per share for the same quarter was set at 1.94. Price to Free Cash Flow for PKI in the course of the last twelve months was 34.66 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for PKI stock

PerkinElmer Inc. [PKI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.02. With this latest performance, PKI shares gained by 4.26% in over the last four-week period, additionally plugging by 40.08% over the last 6 months – not to mention a rise of 45.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PKI stock in for the last two-week period is set at 58.37, with the RSI for the last a single of trading hit 60.89, and the three-weeks RSI is set at 57.83 for PerkinElmer Inc. [PKI]. The present Moving Average for the last 50 days of trading for this stock 120.81, while it was recorded at 124.84 for the last single week of trading, and 101.05 for the last 200 days.

PerkinElmer Inc. [PKI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and PerkinElmer Inc. [PKI] shares currently have an operating margin of +14.06 and a Gross Margin at +44.84. PerkinElmer Inc.’s Net Margin is presently recorded at +7.90.

Return on Total Capital for PKI is now 8.49, given the latest momentum, and Return on Invested Capital for the company is 4.80. Return on Equity for this stock inclined to 8.44, with Return on Assets sitting at 3.64. When it comes to the capital structure of this company, PerkinElmer Inc. [PKI] has a Total Debt to Total Equity ratio set at 80.21. Additionally, PKI Total Debt to Total Capital is recorded at 44.51, with Total Debt to Total Assets ending up at 34.52. Long-Term Debt to Equity for the company is recorded at 78.56, with the Long-Term Debt to Total Capital now at 43.59.

Reflecting on the efficiency of the workforce at the company, PerkinElmer Inc. [PKI] managed to generate an average of $17,519 per employee. Receivables Turnover for the company is 4.25 with a Total Asset Turnover recorded at a value of 0.46.PerkinElmer Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.

PerkinElmer Inc. [PKI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, PerkinElmer Inc. posted 1.06/share EPS, while the average EPS was predicted by analysts to be reported at 1.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PKI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PerkinElmer Inc. go to 14.75%.

An analysis of insider ownership at PerkinElmer Inc. [PKI]

There are presently around $13,193 million, or 93.10% of PKI stock, in the hands of institutional investors. The top three institutional holders of PKI stocks are: VANGUARD GROUP INC with ownership of 12,314,247, which is approximately -1.96% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 12,130,062 shares of the stock with an approximate value of $1.54 billion in PKI stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.23 billion in PKI stock with ownership of nearly -46.338% of the company’s market capitalization.

Positions in PerkinElmer Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 246 institutional holders increased their position in PerkinElmer Inc. [NYSE:PKI] by around 10,589,802 shares. Additionally, 179 investors decreased positions by around 11,705,606 shares, while 78 investors held positions by with 81,519,451 shares. The mentioned changes placed institutional holdings at 103,814,859 shares, according to the latest SEC report filing. PKI stock had 80 new institutional investments in for a total of 2,261,026 shares, while 30 institutional investors sold positions of 178,363 shares during the same period.

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