PKI - Embedded Expectations Analysis - 2020 02 28
ï€ PerkinElmer, Inc. (PKI:USA) currently trades near recent averages relative to UAFRS-based (Uniform) Earnings, with a 21.4x Uniform P/E. At these levels, the market has somewhat bearish expectations for the firm, and management appears concerned about regulatory approvals, their Meizhing acquisition, and their Chinese expansion strategyï€ Specifically, management may be concerned about the progress of their Vanadis clinical trials and the efficacy of their regulatory approval strategy in the US. Moreover, they may be exaggerating the potential of their Meizhing acquisition and its portfolio, and they may be concerned about their expansion strategy in China. Furthermore, they may lack confidence in their ability to sustain double-digit growth in its EUROIMMUN and Tulip businesses, continue to optimize their operating model and supply chain, and reduce SG&A costs. Finally, they may be downplaying concerns about demand issues and about the sustainability of their business performance
PerkinElmer is a provider of products, services and solutions for the diagnostics, life sciences and applied markets. The company operates in the following segments: Discovery and Analytical Solutions and Diagnostics. The company's Discovery and Analytical Solutions segment serves the life sciences and applied markets. The life sciences market consists of the life sciences research market and laboratory services market whereas the applied markets consist of environmental, food and industrial markets. In its Diagnostics segments, the company provides instruments, reagents, assay platforms, and software to hospitals, medical labs, clinicians, and medical research personnel to help improve the health of families.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.