Perrigo Co. (PRGO) Issues FY16 Earnings Guidance
Perrigo Co. (NYSE:PRGO) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.85-7.15 for the period, compared to the Thomson Reuters consensus estimate of $6.95.
Shares of Perrigo Co. (NYSE:PRGO) opened at 83.51 on Thursday. The stock has a 50 day moving average of $89.74 and a 200-day moving average of $92.46. The company’s market capitalization is $11.97 billion. Perrigo Co. has a 1-year low of $79.72 and a 1-year high of $165.18.
Perrigo (NYSE:PRGO) last released its earnings results on Thursday, November 10th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.07. Perrigo had a positive return on equity of 10.27% and a negative net margin of 2.39%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Perrigo Co. will post $7.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, November 25th will be paid a $0.145 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.58 dividend on an annualized basis and a yield of 0.69%. Perrigo’s payout ratio is -60.42%.
PRGO has been the topic of a number of recent analyst reports. Vetr lowered Perrigo from a strong-buy rating to a buy rating and set a $98.60 target price on the stock. in a research note on Monday, August 15th. Deutsche Bank AG upgraded Perrigo from a hold rating to a buy rating and set a $115.00 target price on the stock in a research note on Friday, July 22nd. Guggenheim set a $125.00 target price on Perrigo and gave the stock a buy rating in a research note on Thursday, September 15th. Zacks Investment Research upgraded Perrigo from a hold rating to a buy rating and set a $104.00 price target on the stock in a research note on Wednesday, July 20th. Finally, RBC Capital Markets restated a sector perform rating and set a $92.00 price target on shares of Perrigo in a research note on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $113.37.
In other Perrigo news, EVP Judy L. Brown sold 2,095 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $88.28, for a total value of $184,946.60. Following the completion of the transaction, the executive vice president now directly owns 16,292 shares of the company’s stock, valued at $1,438,257.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Judy L. Brown sold 2,092 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $90.42, for a total value of $189,158.64. Following the completion of the transaction, the executive vice president now directly owns 12,104 shares of the company’s stock, valued at $1,094,443.68. The disclosure for this sale can be found here. 4.47% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its stake in Perrigo by 177.1% in the second quarter. Baird Financial Group Inc. now owns 291,740 shares of the company’s stock worth $27,309,000 after buying an additional 186,465 shares during the period. FMR LLC boosted its stake in Perrigo by 49.6% in the second quarter. FMR LLC now owns 561,061 shares of the company’s stock worth $50,871,000 after buying an additional 185,970 shares during the period. BlackRock Group LTD boosted its stake in Perrigo by 17.1% in the second quarter. BlackRock Group LTD now owns 1,248,987 shares of the company’s stock worth $113,245,000 after buying an additional 182,358 shares during the period. Hsbc Holdings PLC acquired a new stake in Perrigo during the second quarter worth approximately $12,539,000. Finally, Janus Capital Management LLC boosted its stake in Perrigo by 347.2% in the second quarter. Janus Capital Management LLC now owns 133,956 shares of the company’s stock worth $12,146,000 after buying an additional 103,999 shares during the period. 70.80% of the stock is owned by institutional investors.
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