PerkinElmer Stock Soars While Molecular Devices Falls
After announcing its third-quarter results last week, PerkinElmer watched its stock jump 17 percent while Molecular Devices fell 13 percent for the five-day period ending Tuesday as the BioCommerce Week Index ended three consecutive weeks of losses.
Twelve of the 15 companies closed the week with their stock prices up over last week.
PerkinElmer’s stock climbed steadily during the week as the company on Friday announced 10 percent year-over-year growth in revenue, and announced a $95-million pay-down in its debt over the last year (see page 5 for details).
Molecular Devices, reporting what it called its “best third quarter ever,” saw its stock slide from $24 to $20 on Friday before closing at $20.28 Tuesday (see page 4 for details).
Harvard Bioscience, which reported its third-quarter financials last week (see page 1 for details), saw its stock price finish up for the second consecutive week, recording a 1-percent gain. The company’s stock closed at $3.95 for the five-day period, up from $3.91 last week. The stock took a hit on Friday after the firm announced its third-quarter earnings, but climbed back on Monday and Tuesday.
Thermo’s stock price improved 9 percent over the week. The company, which reported its financials last Wednesday morning (see BCW 10/28/04), saw its stock price jump to $29.00 during the day and maintain that during the remainder of the five-day period.
Bruker, Invitrogen, and Waters all recorded 7 percent growth in share price over the week while Beckman and Bio-Rad saw 3 percent improvements in their respective share prices, and Agilent, Sigma and Bio-Rad were all up over 2 percent.
Overall, the Index closed at $32.18 for the week, a 3.4-percent rise from last week’s $31.11.
The Amex Biotech Index was up over 2 percent for the five-day period, the Amex Pharmaceutical Index was up a half percent, and the Nasdaq Index was up nearly 3 percent. The Dow Jones and S&P 500 were up over 1.5 percent.