Perrigo Company (PRGO) Announces Quarterly Earnings Results, Beats Estimates By $0.28 EPS
Perrigo Company (NYSE:PRGO) issued its quarterly earnings results on Thursday. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28, MarketWatch Earnings reports. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm posted $1.93 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Perrigo updated its FY17 guidance to $4.45-4.70 EPS.
Shares of Perrigo (PRGO) traded up 2.33% during trading on Friday, hitting $78.63. The stock had a trading volume of 1,612,186 shares. The company’s market capitalization is $11.28 billion. The company’s 50 day moving average price is $73.48 and its 200 day moving average price is $73.02. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. 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 dividend payout ratio (DPR) is currently -3.90%.
Several research analysts recently commented on PRGO shares. Wells Fargo & Company reissued a “market perform” rating and set a $67.00 price target on shares of Perrigo in a research report on Friday, April 14th. B. Riley reissued a “neutral” rating and set a $67.00 price target on shares of Perrigo in a research report on Saturday, April 22nd. Deutsche Bank AG reduced their price target on Perrigo from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $68.00 price target on shares of Perrigo in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada lowered Perrigo from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $66.00 to $60.00 in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.77.
A number of institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its position in Perrigo by 4.8% in the second quarter. UBS Asset Management Americas Inc. now owns 394,095 shares of the company’s stock valued at $29,762,000 after buying an additional 17,951 shares during the last quarter. Sivik Global Healthcare LLC increased its position in Perrigo by 80.0% in the second quarter. Sivik Global Healthcare LLC now owns 45,000 shares of the company’s stock valued at $3,398,000 after buying an additional 20,000 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in Perrigo during the second quarter valued at approximately $778,000. Thrivent Financial For Lutherans increased its position in Perrigo by 5.9% in the second quarter. Thrivent Financial For Lutherans now owns 123,198 shares of the company’s stock valued at $9,304,000 after buying an additional 6,810 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Perrigo by 47.8% in the second quarter. PNC Financial Services Group Inc. now owns 7,723 shares of the company’s stock valued at $583,000 after buying an additional 2,496 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.
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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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