Needham Believes PerkinElmer (NYSE: PKI) Still Has Room to Grow

Needham analyst Stephen Unger assigned a Buy rating to PerkinElmer (PKIResearch Report) today and set a price target of $139.00. The company’s shares closed last Wednesday at $120.05, close to its 52-week high of $123.21.

According to TipRanks.com, Unger is a 5-star analyst with an average return of 28.6% and a 75.6% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, Thermo Fisher, and NeoGenomics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PerkinElmer with a $120.00 average price target.

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The company has a one-year high of $123.21 and a one-year low of $62.91. Currently, PerkinElmer has an average volume of 887.2K.

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PerkinElmer, Inc. engages in the provision of products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment comprises of technologies that help life sciences researchers better understand diseases and develop treatments. The Diagnostics segment offers instruments, reagents, assay platforms, and software to hospitals, medical labs, clinicians, and medical research professionals to help improve the health of families. The company was founded by Richard Scott Perkin and Charles W. Elmer on April 19, 1937 and is headquartered in Waltham, MA.