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PerkinElmer Inc PKI

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PerkinElmer Raises 2021 Outlook After Strong Q2 and Announces BioLegend Acquisition; Raising FVE

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Narrow-moat PerkinElmer reported strong second-quarter results that beat expectations, and management raised its outlook for 2021 again. On recently generated cash flows and strong near- and long-term prospects, we're raising our fair value estimate to $131 per share from $106 previously. Our new fair value incorporates the planned BioLegend acquisition that was also announced July 26 but still remains below market prices.

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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 Jun 30, 2021
Fiscal Year End Jan 2, 2022
Stock Type Aggressive Growth
Employees 14,000