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Here's Why You Should Invest in PerkinElmer (PKI) Stock Now
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PerkinElmer, Inc. is currently one of the top-performing stocks in the MedTech space. Improved price performance and strong fundamentals instill confidence in investors. Therefore, if you haven’t taken advantage of the stock price appreciation yet, it’s time you add it to your portfolio.
The company has performed impressively in the first quarter of 2018 and is likely to sustain the momentum in the upcoming period.
In the past year, shares of PerkinElmer have rallied 16.2%, significantly outperforming the industry’s growth of just 2.2%.
Over the past 60 days, the Zacks Consensus Estimate for earnings per share rose 2.4% to 86 cents. The company has a Zacks Rank #2 (Buy), which indicates the possibility of outperformance in the near term.
Let’s find out whether the recent positive trend can sustain the stock’s impressive performance in the long run.
What Makes It an Attractive Pick?
Solid Q1 Results
PerkinElmer exited the first quarter of 2018 on a solid note. Earnings of 63 cents per share surpassed the Zacks Consensus Estimate by 3.3%, while revenues inched up 25.3% to $644 million.
The core Discovery & Analytical Solutions (DAS) segment revenues totaled $396.5 million in the quarter, up 10% year over year. Organic revenues increased 5% year over year.
Revenues at the Diagnostic segment grossed $247.5 million, reflecting a 62% year-over-year increase. This also shows an improvement of 7% organically.
Raised Guidance
For 2018, PerkinElmer expects adjusted earnings per share of $3.60, which is significantly higher than the previously issued guidance of $3.50. The company projects revenues of $2.8 billion in 2018, up from the earlier issued range of $2.72-$2.74 billion.
Despite an unfavorable foreign exchange environment, which acted as a deterrent in the quarter under review, the company expects strong adjusted operating margin improvement over the remaining three quarters. Management expects a 70- 90 bps margin expansion in 2018.
Broad Spectrum of Products
PerkinElmer delivers a comprehensive suite of scientific informatics and software solutions to aggregate data into actionable insights in an automated and scalable way. The company’s products consist of the industry-leading ChemDraw software, Electronic Lab Notebooks including cloud-based Elements SaaS Offering and enterprise E-Notebook Solutions, along with the TIBCO Spotfire platform for scientific data analytics.
Other Key Picks
Some other top-ranked medical stocks are Abiomed, Inc. , Varian Medical and Intuitive Surgical Inc. (ISRG - Free Report) .
Intuitive Surgical has an expected long-term earnings growth rate of 12.1%. The stock sports a Zacks Rank #1.
Varian Medical has a projected long-term earnings growth rate of 8%. The stock carries a Zacks Rank #2.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Here's Why You Should Invest in PerkinElmer (PKI) Stock Now
PerkinElmer, Inc. is currently one of the top-performing stocks in the MedTech space. Improved price performance and strong fundamentals instill confidence in investors. Therefore, if you haven’t taken advantage of the stock price appreciation yet, it’s time you add it to your portfolio.
The company has performed impressively in the first quarter of 2018 and is likely to sustain the momentum in the upcoming period.
In the past year, shares of PerkinElmer have rallied 16.2%, significantly outperforming the industry’s growth of just 2.2%.
Over the past 60 days, the Zacks Consensus Estimate for earnings per share rose 2.4% to 86 cents. The company has a Zacks Rank #2 (Buy), which indicates the possibility of outperformance in the near term.
Let’s find out whether the recent positive trend can sustain the stock’s impressive performance in the long run.
What Makes It an Attractive Pick?
Solid Q1 Results
PerkinElmer exited the first quarter of 2018 on a solid note. Earnings of 63 cents per share surpassed the Zacks Consensus Estimate by 3.3%, while revenues inched up 25.3% to $644 million.
The core Discovery & Analytical Solutions (DAS) segment revenues totaled $396.5 million in the quarter, up 10% year over year. Organic revenues increased 5% year over year.
Revenues at the Diagnostic segment grossed $247.5 million, reflecting a 62% year-over-year increase. This also shows an improvement of 7% organically.
Raised Guidance
For 2018, PerkinElmer expects adjusted earnings per share of $3.60, which is significantly higher than the previously issued guidance of $3.50.
The company projects revenues of $2.8 billion in 2018, up from the earlier issued range of $2.72-$2.74 billion.
Despite an unfavorable foreign exchange environment, which acted as a deterrent in the quarter under review, the company expects strong adjusted operating margin improvement over the remaining three quarters. Management expects a 70- 90 bps margin expansion in 2018.
Broad Spectrum of Products
PerkinElmer delivers a comprehensive suite of scientific informatics and software solutions to aggregate data into actionable insights in an automated and scalable way. The company’s products consist of the industry-leading ChemDraw software, Electronic Lab Notebooks including cloud-based Elements SaaS Offering and enterprise E-Notebook Solutions, along with the TIBCO Spotfire platform for scientific data analytics.
Other Key Picks
Some other top-ranked medical stocks are Abiomed, Inc. , Varian Medical and Intuitive Surgical Inc. (ISRG - Free Report) .
Abiomed has an expected long-term earnings growth rate of 27%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical has an expected long-term earnings growth rate of 12.1%. The stock sports a Zacks Rank #1.
Varian Medical has a projected long-term earnings growth rate of 8%. The stock carries a Zacks Rank #2.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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