Skip to main content
Premium Trial:

Request an Annual Quote

Analysts Raise Estimates, Price Target on PerkinElmer

NEW YORK (GenomeWeb News) – Several Wall Street analysts have raised their 2012 estimates and price target on PerkinElmer after the firm reported strong fourth-quarter results that beat expectations on the top and bottom line.

The Waltham, Mass.-based analytical tools firm said yesterday that it expects FY 2012 revenue growth of 10 to 12 percent and organic revenue growth in the mid-single digits. It also anticipates GAAP EPS from continuing operations of between $1.22 and $1.28. On a non-GAAP basis, the firm said that it expects EPS of between $1.98 and $2.04 — above Wall Street's estimate of $1.92.

In a note published last night Goldman Sachs analyst Isaac Ro wrote, "These strong 4Q11 results and guidance support our view that [PerkinElmer's] stronger growth and margin expansion is still underappreciated."

He raised his 2012 revenues estimate on the firm to $2.17 billion from $2.14 billion and his EPS estimate to $2.08 from $1.98. Ro also raised the price target on PerkinElmer's stock to $33 from $31.

Robert W. Baird analyst Quintin Lai lowered his 2012 revenue estimate to $2.15 billion from $2.17 billion but upped his EPS estimate to $2 from $1.93. He also raised his price target on the stock to $31 from $27.

Meanwhile, Leerink Swann has provided FY 2012 revenue expectations of $2.17 billion, up from $2.16 billion. Analyst Dan Leonard also increased the EPS estimate to $2.02 from $1.95. "We've raised our estimates primarily to reflect accelerating growth in Human Health and a lower tax rate going forward," Leonard said in a note.

He raised his valuation on the firm's stock to a range of $30-$32 from an earlier valuation of $24-$25.

Mizuho Securities analyst Peter Lawson raised his 2012 EPS estimate to $2.03 from $1.92 and increased the 12-month price target on PerkinElmer's stock to $30 from $25.

In Friday afternoon trade on the New York Stock Exchange shares of PerkinElmer were up 6 percent at $26.22.

The Scan

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.

Mitochondrial Replacement Therapy Embryos Appear Largely Normal in Single-Cell 'Omics Analyses

Embryos produced with spindle transfer-based mitochondrial replacement had delayed demethylation, but typical aneuploidy and transcriptome features in a PLOS Biology study.

Cancer Patients Report Quality of Life Benefits for Immune Checkpoint Inhibitors

Immune checkpoint inhibitor immunotherapy was linked in JAMA Network Open to enhanced quality of life compared to other treatment types in cancer patients.

Researchers Compare WGS, Exome Sequencing-Based Mendelian Disease Diagnosis

Investigators find a diagnostic edge for whole-genome sequencing, while highlighting the cost advantages and improving diagnostic rate of exome sequencing in EJHG.