Perrigo Company (NYSE:PRGO) Receives Average Recommendation of “Hold” from Analysts
Perrigo Company (NYSE:PRGO) has received an average recommendation of “Hold” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $85.77.
A number of brokerages have weighed in on PRGO. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and set a $76.84 price target for the company in a research report on Friday. Royal Bank Of Canada boosted their price target on Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday. BidaskClub cut Perrigo from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $66.37 price target (down previously from $80.00) on shares of Perrigo in a research report on Thursday. Finally, Cantor Fitzgerald set a $93.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Thursday.
Several institutional investors have recently bought and sold shares of the company. Korea Investment CORP raised its position in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia raised its position in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Johnson Financial Group Inc. raised its position in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after buying an additional 240 shares during the last quarter. Bessemer Group Inc. raised its position in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after buying an additional 2,040 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.
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Shares of Perrigo (PRGO) traded up 2.49% during midday trading on Friday, reaching $78.75. The company’s stock had a trading volume of 2,292,795 shares. The stock’s market capitalization is $11.29 billion. The stock has a 50-day moving average price of $73.48 and a 200 day moving average price of $73.02. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Equities analysts forecast that Perrigo will post $4.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. Perrigo’s payout ratio is presently -3.90%.
Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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