Perrigo (NYSE:PRGO) had its price objective decreased by Wells Fargo from $90.00 to $84.00 in a research note published on Monday morning, Marketbeat reports. Wells Fargo currently has a market perform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Oppenheimer set a $98.00 target price on Perrigo and gave the stock a buy rating in a research note on Friday, May 11th. ValuEngine cut Perrigo from a hold rating to a sell rating in a research note on Wednesday, May 9th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a buy rating in a research note on Tuesday, May 8th. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a buy rating in a research note on Monday, April 23rd. Finally, JPMorgan Chase reiterated a neutral rating and set a $83.00 target price (up from $82.00) on shares of Perrigo in a research note on Monday, March 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $93.06.

Shares of Perrigo opened at $75.86 on Monday, Marketbeat reports. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.77 and a beta of 0.77. Perrigo has a 1-year low of $75.66 and a 1-year high of $76.20. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 0.53.

Perrigo (NYSE:PRGO) last released its earnings results on Tuesday, May 8th. The company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. sell-side analysts forecast that Perrigo will post 5.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Friday, June 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, May 31st. Perrigo’s dividend payout ratio is currently 15.42%.

In related news, Director Jeffrey C. Smith bought 50,000 shares of Perrigo stock in a transaction on Thursday, May 17th. The stock was acquired at an average price of $75.89 per share, with a total value of $3,794,500.00. Following the acquisition, the director now directly owns 528 shares of the company’s stock, valued at $40,069.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Uwe Roehrhoff bought 7,500 shares of Perrigo stock in a transaction on Monday, March 5th. The shares were bought at an average cost of $81.85 per share, with a total value of $613,875.00. Following the acquisition, the chief executive officer now directly owns 4,900 shares in the company, valued at $401,065. The disclosure for this purchase can be found here. Insiders purchased a total of 307,500 shares of company stock worth $23,210,875 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Dupont Capital Management Corp purchased a new position in Perrigo during the 4th quarter valued at about $104,000. Twin Tree Management LP grew its holdings in Perrigo by 271.0% during the 1st quarter. Twin Tree Management LP now owns 2,223 shares of the company’s stock valued at $185,000 after buying an additional 3,523 shares in the last quarter. ARP Americas LP purchased a new position in Perrigo during the 4th quarter valued at about $212,000. Quantitative Systematic Strategies LLC purchased a new position in Perrigo during the 4th quarter valued at about $213,000. Finally, Investors Research Corp purchased a new position in Perrigo during the 4th quarter valued at about $214,000. 79.52% of the stock is owned by institutional investors and hedge funds.

Perrigo Company Profile

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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