Perrigo Company (PRGO) Rating Reiterated by Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Perrigo Company (NYSE:PRGO) in a report released on Wednesday, May 24th. Jefferies Group LLC currently has a $71.00 target price on the stock.
A number of other brokerages have also recently commented on PRGO. B. Riley reissued a neutral rating and set a $83.00 target price on shares of Perrigo Company in a report on Tuesday, January 24th. Canaccord Genuity set a $86.00 target price on Perrigo Company and gave the company a buy rating in a report on Saturday, March 18th. Royal Bank of Canada reduced their target price on Perrigo Company to $68.00 in a report on Tuesday, February 28th. Guggenheim reissued a buy rating and set a $125.00 target price on shares of Perrigo Company in a report on Tuesday, February 28th. Finally, Deutsche Bank AG reissued a buy rating and set a $93.00 target price (down previously from $95.00) on shares of Perrigo Company in a report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $84.44.
Perrigo Company (NYSE PRGO) traded up 0.27% on Wednesday, hitting $73.02. The stock had a trading volume of 1,765,723 shares. Perrigo Company has a 52-week low of $65.47 and a 52-week high of $99.41. The company has a 50 day moving average price of $72.68 and a 200-day moving average price of $75.49. The company’s market cap is $10.47 billion.
Perrigo Company (NYSE:PRGO) last released its quarterly earnings results on Tuesday, May 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Perrigo Company had a positive return on equity of 11.79% and a negative net margin of 43.81%. Perrigo Company’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 EPS. On average, equities research analysts predict that Perrigo Company will post $4.28 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Friday, May 26th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Wednesday, May 24th. Perrigo Company’s dividend payout ratio is presently -3.90%.
A number of hedge funds have recently bought and sold shares of PRGO. Moors & Cabot Inc. boosted its stake in Perrigo Company by 6.3% in the third quarter. Moors & Cabot Inc. now owns 7,336 shares of the company’s stock worth $678,000 after buying an additional 438 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in Perrigo Company during the third quarter worth $451,000. Advantus Capital Management Inc boosted its stake in Perrigo Company by 1.5% in the third quarter. Advantus Capital Management Inc now owns 14,115 shares of the company’s stock worth $1,303,000 after buying an additional 207 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Perrigo Company by 13.0% in the third quarter. Brown Brothers Harriman & Co. now owns 4,841,742 shares of the company’s stock worth $447,038,000 after buying an additional 557,155 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in Perrigo Company by 0.3% in the third quarter. United Services Automobile Association now owns 46,102 shares of the company’s stock worth $4,257,000 after buying an additional 156 shares in the last quarter. Institutional investors own 76.35% of the company’s stock.
Perrigo Company 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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