Analysts Set Perrigo Company plc (NYSE:PRGO) Price Target at $31.25

Shares of Perrigo Company plc (NYSE:PRGO) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.25.

PRGO has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. Canaccord Genuity Group lowered their price target on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. lowered their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price target on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th.

Perrigo Stock Down 1.0%

Shares of Perrigo stock opened at $20.54 on Tuesday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -35.41 and a beta of 0.43. The company’s 50 day moving average price is $21.95 and its 200-day moving average price is $24.65. Perrigo has a 52-week low of $20.26 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. Equities research analysts forecast that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a yield of 5.6%. Perrigo’s payout ratio is -200.00%.

Insiders Place Their Bets

In other Perrigo news, EVP Abigail Lennox bought 1,255 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $22.41 per share, with a total value of $28,124.55. Following the transaction, the executive vice president owned 1,255 shares in the company, valued at $28,124.55. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Geoffrey M. Parker bought 4,375 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $22.97 per share, with a total value of $100,493.75. Following the transaction, the director owned 33,287 shares in the company, valued at $764,602.39. The trade was a 15.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 10,118 shares of company stock worth $232,699 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently made changes to their positions in PRGO. Price T Rowe Associates Inc. MD grew its stake in shares of Perrigo by 41.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the period. Millennium Management LLC grew its stake in shares of Perrigo by 5,198.0% during the 1st quarter. Millennium Management LLC now owns 2,052,599 shares of the company’s stock valued at $57,555,000 after purchasing an additional 2,013,856 shares during the period. Norges Bank bought a new stake in shares of Perrigo during the 2nd quarter valued at about $36,755,000. Perpetual Ltd grew its stake in shares of Perrigo by 64.2% during the 3rd quarter. Perpetual Ltd now owns 3,149,878 shares of the company’s stock valued at $70,148,000 after purchasing an additional 1,231,400 shares during the period. Finally, Ion Asset Management Ltd. grew its stake in shares of Perrigo by 34.7% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock valued at $102,007,000 after purchasing an additional 983,727 shares during the period. 95.91% of the stock is currently owned by institutional investors.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.