Perrigo Co. (PRGO) Upgraded to “Neutral” at Bank of America Corp.
Other equities analysts also recently issued research reports about the company. Vetr downgraded Perrigo from a strong-buy rating to a buy rating and set a $98.60 target price on the stock. in a research report on Monday, July 25th. Deutsche Bank AG raised Perrigo from a hold rating to a buy rating and set a $115.00 target price on the stock in a research report on Friday, July 22nd. Zacks Investment Research raised Perrigo from a hold rating to a buy rating and set a $104.00 target price on the stock in a research report on Wednesday, July 20th. Guggenheim reaffirmed a buy rating and issued a $125.00 target price on shares of Perrigo in a research report on Monday, August 22nd. Finally, Leerink Swann set a $81.00 target price on Perrigo and gave the company a hold rating in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. Perrigo presently has a consensus rating of Hold and a consensus price target of $113.92.
Shares of Perrigo (NYSE:PRGO) opened at 89.11 on Friday. The firm’s market capitalization is $12.77 billion. Perrigo has a 12-month low of $79.72 and a 12-month high of $156.03. The company’s 50-day moving average price is $89.61 and its 200-day moving average price is $92.44.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, November 10th. The company reported $1.65 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Perrigo will post $7.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, November 25th will be issued 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 0.65%. Perrigo’s payout ratio is -60.42%.
In other Perrigo news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $88.28, for a total transaction of $184,946.60. Following the completion of the sale, the executive vice president now directly owns 16,292 shares in the company, valued at approximately $1,438,257.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $89.95, for a total value of $522,969.30. Following the sale, the director now owns 31,501 shares of the company’s stock, valued at $2,833,514.95. The disclosure for this sale can be found here. 4.47% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PRGO. Amica Retiree Medical Trust acquired a new stake in shares of Perrigo during the second quarter worth $105,000. Spirit of America Management Corp NY acquired a new stake in shares of Perrigo during the third quarter worth $120,000. Peddock Capital Advisors LLC acquired a new stake in shares of Perrigo during the third quarter worth $138,000. Johnson Financial Group Inc. increased its stake in shares of Perrigo by 858.5% in the second quarter. Johnson Financial Group Inc. now owns 1,524 shares of the company’s stock worth $139,000 after buying an additional 1,365 shares during the last quarter. Finally, Advisor Group Inc. acquired a new stake in shares of Perrigo during the second quarter worth $139,000. Hedge funds and other institutional investors own 70.80% 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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