Why Shares of PerkinElmer Dropped 14.4% in January

Shares of PerkinElmer (NYSE: PKI) fell 14.4% in January, according to data from from S&P Global Market Intelligence. The company specializes in medical diagnostic, food, environmental, and industrial testing, plus life science research. The stock closed at $201.06 on Dec. 31, opened the new year at $199.43, and fell to a low of $162.20 on Jan. 28. 

PerkinElmer released preliminary fourth-quarter and 2021 fiscal year numbers on Jan. 11. The company said it expected reported fourth-quarter revenue to be down 1% year over year compared to the same period in 2020.

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Source Fool.com