Perrigo (NYSE:PRGO) had its target price lowered by Stifel Nicolaus from $92.00 to $87.00 in a research report released on Friday morning, Marketbeat reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also weighed in on PRGO. Cantor Fitzgerald reaffirmed a buy rating and issued a $107.00 target price on shares of Perrigo in a research report on Wednesday, July 18th. Morgan Stanley reaffirmed an equal weight rating and issued a $85.00 target price on shares of Perrigo in a research report on Monday, June 18th. Barclays lowered Perrigo from an overweight rating to an equal weight rating and set a $110.00 target price on the stock. in a research report on Wednesday, June 6th. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a buy rating in a research report on Monday, May 14th. Finally, Oppenheimer set a $98.00 target price on Perrigo and gave the stock a buy rating in a research report on Friday, May 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $89.94.

Shares of Perrigo stock opened at $69.64 on Friday. The stock has a market capitalization of $9.56 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.23. Perrigo has a 1 year low of $67.53 and a 1 year high of $95.93.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, August 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 EPS. research analysts forecast that Perrigo will post 4.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, August 30th. Perrigo’s dividend payout ratio is 15.42%.

In related news, Director Jeffrey C. Smith acquired 50,000 shares of the stock in a transaction dated Thursday, May 17th. The shares were 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 owns 528 shares in the company, valued at approximately $40,069.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dupont Capital Management Corp increased its holdings in shares of Perrigo by 63.8% during the 2nd quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock valued at $124,000 after acquiring an additional 664 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Perrigo by 0.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 194,657 shares of the company’s stock valued at $16,222,000 after acquiring an additional 692 shares during the last quarter. Sentry Investment Management LLC increased its holdings in shares of Perrigo by 9.0% during the 1st quarter. Sentry Investment Management LLC now owns 9,140 shares of the company’s stock valued at $762,000 after acquiring an additional 751 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Perrigo by 8.6% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 11,106 shares of the company’s stock valued at $810,000 after acquiring an additional 880 shares during the last quarter. Finally, Stonebridge Capital Management Inc. increased its holdings in shares of Perrigo by 22.9% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 4,769 shares of the company’s stock valued at $359,000 after acquiring an additional 890 shares during the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.

About Perrigo

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.

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