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PerkinElmer Inc PKI

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Morningstar’s Analysis

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PerkinElmer Reports Strong Q1 Results Based on COVID-19 Tailwinds; No FVE Change

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Narrow-moat PerkinElmer reported strong first-quarter results, delivering overall revenue of about $1.3 billion, beating our and FactSet consensus expectations on the top and bottom lines. Unsurprisingly, the company experienced another quarter of solid growth, nearly up 100% from 2020, mainly driven by the ongoing demand for its COVID-19-related testing solutions. We are maintaining our narrow moat rating and $106 fair value estimate. 

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Company Profile

Business Description

PerkinElmer provides instruments, tests, services, and software solutions to the pharmaceutical, biomedical, chemical, environmental, and general industrial markets. The company operates in two segments: diagnostics, which includes prenatal screening and infectious-disease testing, and discovery and analytical solutions, composed of life science, industrial, environmental, and food applications. PerkinElmer offers products and services ranging from genetic screening to environmental analytical tools.

940 Winter Street
Waltham, MA, 02451
T +1 781 663-6900
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Mar 31, 2021
Fiscal Year End Jan 2, 2022
Stock Type Aggressive Growth
Employees 14,000