Shares of PerkinElmer Inc (NYSE:PKI) Struck With Downgrade From Wedbush. Should Investors be Concerned?


PerkinElmer Inc (NYSE:PKI) Receives a Downgrade

Wedbush lowered shares of PerkinElmer Inc (NYSE:PKI) stock to a “Neutral” rating from their previous “Outperform” rating. The news of this change was distributed in analysts report today. The firm currently has $56.00 TP on the shares.

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 7.35% above today’s ($51.42) stock price. PerkinElmer Inc was the topic of 8 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Maxim Group maintained shares on August 27 with “Buy” rating.

Approximately 219,547 shares of stock traded hands. PerkinElmer, Inc. (NYSE:PKI) has risen 2.54% since April 30, 2015 and is uptrending. It has outperformed by 2.82% the S&P500.

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 $5.90 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).