Perrigo Company (PRGO) Receives New Coverage from Analysts at Oppenheimer Holdings, Inc.
A number of other analysts have also commented on the company. Royal Bank Of Canada set a $60.00 target price on Perrigo and gave the company a sell rating in a research report on Sunday, July 16th. Jefferies Group LLC reiterated a hold rating and issued a $71.00 price target (up previously from $69.00) on shares of Perrigo in a report on Friday, August 11th. Wells Fargo & Company reiterated a market perform rating and issued a $77.00 price target on shares of Perrigo in a report on Tuesday, August 15th. BidaskClub raised Perrigo from a strong sell rating to a sell rating in a research note on Saturday, September 9th. Finally, Cantor Fitzgerald set a $85.00 price objective on Perrigo and gave the company a buy rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Perrigo has an average rating of Hold and an average target price of $89.36.
Shares of Perrigo (NYSE PRGO) opened at 86.36 on Monday. The company has a 50-day moving average of $81.88 and a 200 day moving average of $74.32. Perrigo has a 52-week low of $63.68 and a 52-week high of $97.17. The company’s market capitalization is $12.32 billion.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts predict that Perrigo will post $4.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a $0.16 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.74%. Perrigo’s dividend payout ratio (DPR) is -3.51%.
In other news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at $905,459.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas Farrington sold 865 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at $225,008. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,894 shares of company stock worth $581,320. Insiders own 6.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Korea Investment CORP boosted its stake in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after acquiring an additional 781 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after acquiring an additional 176 shares during the period. Johnson Financial Group Inc. grew its position in shares of Perrigo by 15.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after acquiring an additional 240 shares during the period. Global X Management Co. LLC grew its position in shares of Perrigo by 56.4% during the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after acquiring an additional 855 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after acquiring an additional 2,040 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.
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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