PerkinElmer, Inc. (NYSE:PKI) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,307,900 shares, a drop of 10.1% from the May 30th total of 4,794,200 shares. Currently, 3.9% of the shares of the company are short sold. Based on an average trading volume of 915,100 shares, the short-interest ratio is presently 4.7 days.

Several equities research analysts have issued reports on PKI shares. Wolfe Research started coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating for the company. Goldman Sachs Group downgraded shares of TerraForm Power from a “neutral” rating to a “sell” rating and set a $12.00 price objective for the company. in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the stock a “buy” rating in a research report on Friday, May 3rd. Raymond James raised their price objective on shares of S&P Global from $226.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $81.32.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of PerkinElmer by 23.0% during the fourth quarter. Raymond James & Associates now owns 14,890 shares of the medical research company’s stock worth $1,170,000 after purchasing an additional 2,782 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in PerkinElmer by 42.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,910 shares of the medical research company’s stock worth $543,000 after acquiring an additional 2,063 shares during the period. Advisor Group Inc. grew its holdings in PerkinElmer by 50.3% during the fourth quarter. Advisor Group Inc. now owns 3,943 shares of the medical research company’s stock worth $310,000 after acquiring an additional 1,319 shares during the period. Citigroup Inc. grew its holdings in PerkinElmer by 62.7% during the fourth quarter. Citigroup Inc. now owns 13,322 shares of the medical research company’s stock worth $1,047,000 after acquiring an additional 5,135 shares during the period. Finally, Northern Trust Corp grew its holdings in PerkinElmer by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,068,924 shares of the medical research company’s stock worth $83,965,000 after acquiring an additional 9,454 shares during the period. Institutional investors own 95.45% of the company’s stock.

Shares of NYSE PKI traded down $0.65 during midday trading on Friday, reaching $95.18. The company’s stock had a trading volume of 616,977 shares, compared to its average volume of 667,598. The company has a current ratio of 1.68, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. PerkinElmer has a fifty-two week low of $71.83 and a fifty-two week high of $103.00. The stock’s 50 day moving average price is $92.90. The firm has a market cap of $10.63 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.70 and a beta of 1.26.

PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. PerkinElmer had a net margin of 8.89% and a return on equity of 15.98%. The company had revenue of $648.70 million during the quarter, compared to the consensus estimate of $645.38 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts anticipate that PerkinElmer will post 4.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be given a $0.07 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.29%. PerkinElmer’s payout ratio is 7.76%.

About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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