Perrigo Company (PRGO) Issues Quarterly Earnings Results
Perrigo Company (NYSE:PRGO) issued its quarterly earnings results on Thursday. The company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.28, RTT News reports. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Perrigo updated its FY17 guidance to $4.80-4.95 EPS.
Shares of Perrigo (PRGO) opened at $87.70 on Friday. Perrigo has a 1 year low of $63.68 and a 1 year high of $91.95. The firm has a market capitalization of $12,392.57, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is -6.99%.
Several research analysts have commented on the company. Royal Bank Of Canada raised Perrigo from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $64.00 to $86.00 in a research report on Friday. Morgan Stanley lifted their price target on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company lifted their price target on Perrigo to $90.00 and gave the stock a “market perform” rating in a research report on Friday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $81.00 price target on shares of Perrigo in a research report on Friday. Finally, Oppenheimer Holdings, Inc. assumed coverage on Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $91.50.
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In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, the executive vice president now directly owns 10,118 shares in the company, valued at $905,459.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total value of $47,370.40. Following the completion of the sale, the executive vice president now owns 2,724 shares in the company, valued at $209,475.60. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock worth $581,320 over the last quarter. Company insiders own 6.90% of the company’s stock.
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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