Cantor Fitzgerald Releases a Hold Rating on PerkinElmer

By Jason Carr

Cantor Fitzgerald analyst Bryan Brokmeier assigned a Hold rating to PerkinElmer (NYSE: PKI) on July 14. The company’s shares closed on Friday at $69.46, close to its 52-week high of $69.52.

According to TipRanks.com, Brokmeier is ranked 0 out of 5 stars with an average return of -7.7% and a 46.8% success rate. Brokmeier covers the Healthcare sector, focusing on stocks such as Rosetta Genomics Ltd, Pacific Biosciences, and Exact Sciences.

Currently, the analyst consensus on PerkinElmer is Hold and the average price target is $65.80, representing a -5.3% downside.

In a report issued on July 13, Wells Fargo also initiated coverage with a Hold rating on the stock with a $72 price target.

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 $573 million and had a net profit of $63.87 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Last 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.