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Is PerkinElmer (PKI) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Computer and Technology space have likely heard of PerkinElmer (PKI), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of PKI and the rest of the Computer and Technology group's stocks.

PerkinElmer is a member of the Computer and Technology sector. This group includes 602 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PKI is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for PKI's full-year earnings has moved 40.28% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that PKI has returned about 23.90% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 22.06%. This means that PerkinElmer is outperforming the sector as a whole this year.

Looking more specifically, PKI belongs to the Instruments - Scientific industry, which includes 5 individual stocks and currently sits at #87 in the Zacks Industry Rank. Stocks in this group have gained about 4.17% so far this year, so PKI is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PKI as it looks to continue its solid performance.


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