Are PerkinElmer Inc (NYSE:PKI) Shares Reaching An Inflection Point; Goldman Sachs Decides to Downgrades Company

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PerkinElmer Inc (NYSE:PKI) Receives a Downgrade

PerkinElmer Inc (NYSE:PKI) was just cut by research analysts at Goldman Sachs from a Neutral to a Sell in analysts report revealed on 8 December. The firm now has a $44.00 Estimated Target Price on shares. Goldman Sachs’s Estimated Target Price indicates a possible downside of -14.41% for the stock.

From a total of 17 analysts covering PerkinElmer Inc (NYSE:PKI) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $62 while the lowest target price is $50. The mean of all analyst targets is $56.35 with a 7.37% above today’s ($51.41) stock price. PerkinElmer Inc was the topic of 9 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Wedbush downgraded shares on December 3 to “Neutral” rating. Cantor Fitzgerald initiated PKI stock in a recent report from August 26 with “Buy” rating.

The stock decreased 1.61% or $0.84 during the last trading session, striking $51.41. Approximately 154 shares of stock traded hands. PerkinElmer, Inc. (NYSE:PKI) has risen 0.39% since May 5, 2015 and is uptrending. It has outperformed by 0.98% the S&P500.

The overall sentiment of institutions has increased to 1.11 in Q2 2015. Its up 0.44, from 0.67 in 2015Q2. The ratio is positive, as 35 institutions have sold all the shares of PerkinElmer, Inc. that they owned while 95 funds have taken shares off the table. 42 funds have purchased shares for the first time while 102 added to their positions. These institutions now hold 92.27 million shares or 11.68% less than the 104.48 million shares they owned in 2015Q2.

The Fund Edinburgh Partners Ltd currently is holding shares equating to 8.19% of its total portfolio in PerkinElmer, Inc. representing a total of 1.69 million shares. Another fund,Sector Gamma As, is holding a total of 390,360 shares equating to 4.86% of their holdings. Additionally, Robecosam Usa Inc. has a 56,406 share stake in PerkinElmer, Inc. which represents 3.74% of their total portfolio. The Fund, Sensato Investors Llc, based out of California, has also built up a stake in the stock, which represents a total of 2.77% of their total portfolio. Finally Impax Asset Management Ltd, a fund which is based in the state of United Kingdom reported a total holdings of 812,360 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of PerkinElmer, Inc. have witnessed 0 insider buys, and a total of 4 sales equating to a net activity of approximately $2.33 million . Okun Andrew sold 2,000 shares worth approximately $100,000. Corbett James sold 3,000 shares worth approximately $142,776. Sicchitano Kenton J sold 12,586 shares worth approximately $602,630. Lopardo Nicholas A sold 30,000 shares worth approximately $1.49M. The company insider Michas Alexis P sold 20,000 shares worth $1.05M.

PerkinElmer, Inc. is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The company has a market cap of $5.85 billion. The Firm operates its business in two divisions: Human Health and Environmental Health. It has 33.26 P/E ratio. 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.

According to Zacks Investment Research, “PerkinElmer, Inc. is a global technology company which provides products and systems to the telecom, medical, pharmaceutical, chemical, semiconductor and photographic markets. The Company has operations in over 100 countries, and is a component of the S&P 500 Index. The Company’s continuing operations are classified into four operating segments: Life Sciences, Optoelectronics, Instruments, and Fluid Sciences.” Get a free copy of the Zacks research report on PerkinElmer, Inc. (PKI).

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