Cantor Fitzgerald Sticks to Its Hold Rating for PerkinElmer

By Ryan Adsit

In a report released today, Bryan Brokmeier from Cantor Fitzgerald reiterated a Hold rating on PerkinElmer (NYSE: PKI), with a price target of $65. The company’s shares opened today at $64.75, close to its 52-week high of $67.09.

According to TipRanks.com, Brokmeier is ranked 0 out of 5 stars with an average return of -8.9% and a 45.4% success rate. Brokmeier covers the Healthcare sector, focusing on stocks such as Rosetta Genomics Ltd, Pacific Biosciences, and Exact Sciences.

PerkinElmer has an analyst consensus of Hold, with a price target consensus of $59.33.

Based on PerkinElmer’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $514 million and quarterly net profit of $38.6 million. In comparison, last year the company earned revenue of $539 million and had a net profit of $47.47 million.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Peter Barrett, a Director at PKI sold 10,000 shares for a total of $632,200.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PerkinElmer, Inc. (United States) provides products, services and solutions to diagnostics, food, environmental, industrial, life sciences research, and laboratory services. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment comprises of technologies that helps life sciences researchers better understand diseases and develop treatments. The Diagnostics segment offers instruments, reagents, assay platforms, and software to hospitals, medical labs, clinicians, and medical research professionals to help improve the health of families. The company was founded by Richard Scott Perkin and Charles W. Elmer on April 19, 1937 and is headquartered in Waltham, MA.