Bank of America Downgrades PerkinElmer to Underperform

Brokerage firm Bank of America Downgrades its rating on PerkinElmer(PKI). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Feb 3, 2017.

In a different note, Deutsche Bank said it Initiates Coverage On PerkinElmer, according to a research note issued on Jan 18, 2017. In the research note, the firm Announces the price-target to $55 per share. The shares have been rated ‘Hold’ by the firm.

PerkinElmer (PKI) made into the market gainers list on Tuesdays trading session with the shares advancing 0.71% or 0.37 points. Due to strong positive momentum, the stock ended at $52.69, which is also near the day’s high of $53.05. The stock began the session at $52.36 and the volume stood at 8,11,034 shares. The 52-week high of the shares is $57.28 and the 52 week low is $40.41. The company has a current market capitalization of $5,772 M and it has 10,95,45,379 shares in outstanding.

PerkinElmer(PKI) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $566.770M. Analysts had an estimated revenue of $612.170M. Earnings per share were $0.83. Analysts had estimated an EPS of $0.86.

Several Insider Transactions has been reported to the SEC. On Dec 2, 2016, Alexis P Michas (director) sold 15,000 shares at $51.00 per share price.Also, On Sep 22, 2016, Frank Anders Wilson (officer ) sold 46,611 shares at $55.00 per share price.On Sep 22, 2016, Joel S Goldberg (officer ) sold 38,095 shares at $55.00 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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