Taking a Fresh Look at PerkinElmer, Inc. (PKI)

PerkinElmer, Inc. (NYSE:PKI) is an interesting player in the Healthcare space, with a focus on Medical Laboratories & Research. The stock has been active on the tape, currently trading at $52.96, up from yesterday’s close by -0.15%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

It’s important to get a feel for how any stock is actually valued on the market based on its core numbers. PerkinElmer, Inc. (PKI) currently trades with a market capitalization of $5.80B. That value represents a market adjusting for revenues that have been falling by -2.70% on a quarterly year/year basis as of the company’s last quarterly report.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For PKI, the company currently has $311.66M of cash on the books, which is offset by $1.13B current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $304.54M over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of 0.86 on a per share basis this quarter. Perhaps, that suggests something about why 96.30% of the outstanding share supply is held by institutional investors.

Technical Analysis

Sometimes, we can understand most about a stock by simply looking at how it has been trading. Looking at the stock’s movement on the chart, PerkinElmer, Inc. recorded a 52-week high of 57.28. It is now trading 4.24 off that level. The stock is trading 52.64 its 50-day moving average by -0.4. The stock carved out a 52-week low down at 39.50.

In recent action, PerkinElmer, Inc. (PKI) has made a move of -1.94% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 9.3, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 108.52M with 3.79% sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PKI.

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