Perrigo Co. (PRGO) Receives Sector Perform Rating from RBC Capital Markets
RBC Capital Markets reiterated their sector perform rating on shares of Perrigo Co. (NYSE:PRGO) in a research report sent to investors on Tuesday morning. RBC Capital Markets currently has a $92.00 price target on the stock.
Several other research analysts have also recently commented on the company. Bank of America Corp. reiterated a sell rating and issued a $109.00 price target on shares of Perrigo in a research note on Wednesday, June 15th. Vetr cut Perrigo from a strong-buy rating to a buy rating and set a $98.60 price target on the stock. in a research note on Monday, August 15th. Deutsche Bank AG upgraded Perrigo from a hold rating to a buy rating and set a $115.00 price target on the stock in a research note on Friday, July 22nd. Argus cut Perrigo from a buy rating to a hold rating in a research note on Monday, June 20th. Finally, Zacks Investment Research upgraded Perrigo from a hold rating to a buy rating and set a $104.00 price target on the stock in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $113.37.
Shares of Perrigo (NYSE:PRGO) traded up 0.0758% on Tuesday, hitting $93.3507. The company’s stock had a trading volume of 136,149 shares. The company has a 50 day moving average of $91.00 and a 200 day moving average of $102.63. The firm’s market cap is $13.38 billion. Perrigo has a 1-year low of $82.50 and a 1-year high of $173.53.
Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The company earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $2.18 EPS. Perrigo’s quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Perrigo will post $7.06 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 24th. Perrigo’s payout ratio is currently -60.42%.
In other news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $88.28, for a total transaction of $184,946.60. Following the completion of the sale, the executive vice president now owns 16,292 shares in the company, valued at approximately $1,438,257.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $89.95, for a total value of $522,969.30. Following the sale, the director now owns 31,501 shares of the company’s stock, valued at approximately $2,833,514.95. The disclosure for this sale can be found here. Company insiders own 4.47% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Parnassus Investments CA increased its stake in shares of Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock worth $498,584,000 after buying an additional 1,922,347 shares during the period. Franklin Resources Inc. increased its stake in shares of Perrigo by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,661,431 shares of the company’s stock worth $241,311,000 after buying an additional 33,921 shares during the period. BlackRock Fund Advisors increased its stake in shares of Perrigo by 1.9% in the second quarter. BlackRock Fund Advisors now owns 2,527,908 shares of the company’s stock worth $229,205,000 after buying an additional 48,129 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Perrigo during the second quarter worth approximately $210,657,000. Finally, Aberdeen Asset Management PLC UK increased its stake in shares of Perrigo by 23.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 2,322,257 shares of the company’s stock worth $210,559,000 after buying an additional 443,511 shares during the period. Institutional investors own 70.16% of the company’s stock.
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