Perrigo Co. (PRGO) Given Consensus Recommendation of “Hold” by Analysts
Perrigo Co. (NYSE:PRGO) has been assigned a consensus rating of “Hold” from the twenty-one brokerages that are covering the firm. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $98.80.
A number of analysts have recently commented on PRGO shares. Vetr downgraded Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price objective on the stock. in a research note on Monday, August 15th. Guggenheim set a $125.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Thursday, September 15th. RBC Capital Markets reiterated a “sector perform” rating and set a $92.00 price target on shares of Perrigo in a report on Tuesday, September 20th. Argus reiterated a “hold” rating on shares of Perrigo in a report on Tuesday, September 27th. Finally, Bank of America Corp. upgraded Perrigo from an “underperform” rating to a “neutral” rating in a report on Friday, November 11th.
In other Perrigo news, Director Gary K. Kunkle, Jr. sold 5,814 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $89.95, for a total transaction of $522,969.30. Following the completion of the transaction, the director now directly owns 31,501 shares in the company, valued at $2,833,514.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Farrington sold 1,110 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $96.76, for a total transaction of $107,403.60. Following the transaction, the executive vice president now owns 2,970 shares of the company’s stock, valued at $287,377.20. The disclosure for this sale can be found here. 4.47% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PRGO. D.A. Davidson & CO. boosted its stake in Perrigo by 481.4% in the third quarter. D.A. Davidson & CO. now owns 6,454 shares of the company’s stock worth $593,000 after buying an additional 5,344 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Perrigo by 1.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 268,720 shares of the company’s stock valued at $24,811,000 after buying an additional 3,020 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Perrigo during the third quarter valued at $1,473,000. Notis McConarty Edward boosted its stake in shares of Perrigo by 11.5% in the third quarter. Notis McConarty Edward now owns 5,825 shares of the company’s stock valued at $538,000 after buying an additional 600 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in shares of Perrigo by 13.0% in the third quarter. Credit Suisse AG now owns 260,344 shares of the company’s stock valued at $24,040,000 after buying an additional 29,930 shares in the last quarter. Institutional investors and hedge funds own 69.38% of the company’s stock.
Shares of Perrigo (NYSE:PRGO) traded up 0.98% during midday trading on Wednesday, hitting $86.63. The stock had a trading volume of 472,900 shares. Perrigo has a 52 week low of $79.72 and a 52 week high of $152.36. The stock has a 50 day moving average price of $87.46 and a 200-day moving average price of $91.83. The stock’s market capitalization is $12.42 billion.
Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 10th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.07. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. Perrigo had a positive return on equity of 10.78% and a negative net margin of 26.62%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. Equities research analysts anticipate that Perrigo will post $6.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, November 25th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.58 annualized dividend and a yield of 0.68%. Perrigo’s dividend payout ratio (DPR) is presently -5.53%.
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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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