Perrigo Co. (PRGO) Rating Reiterated by RBC Capital Markets
Perrigo Co. (NYSE:PRGO)‘s stock had its “sector perform” rating reaffirmed by equities researchers at RBC Capital Markets in a research report issued to clients and investors on Tuesday. They presently have a $92.00 price objective on the stock. RBC Capital Markets’ price objective would indicate a potential downside of 1.37% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Bank of America Corp. reissued a “sell” rating and issued a $109.00 price objective on shares of Perrigo in a report on Wednesday, June 15th. Vetr cut Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price objective for the company. in a report on Monday, August 15th. Deutsche Bank AG upgraded Perrigo from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Friday, July 22nd. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Finally, Zacks Investment Research upgraded Perrigo from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $113.37.
Shares of Perrigo (NYSE:PRGO) traded up 0.20% during trading on Tuesday, reaching $93.47. The company had a trading volume of 147,123 shares. Perrigo has a 52 week low of $82.50 and a 52 week high of $173.53. The stock’s 50-day moving average price is $91.00 and its 200-day moving average price is $102.63. The company’s market capitalization is $13.39 billion.
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Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. The company earned $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.18 EPS. On average, equities analysts expect that Perrigo will post $7.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 24th. Perrigo’s dividend payout ratio (DPR) is -60.42%.
In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total transaction of $97,600.08. Following the transaction, the director now directly owns 10,425 shares in the company, valued at $948,258. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $89.95, for a total value of $522,969.30. Following the transaction, the director now owns 31,501 shares in the company, valued at $2,833,514.95. The disclosure for this sale can be found here. Company insiders own 4.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balentine LLC raised its stake in Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock worth $134,000 after buying an additional 230 shares in the last quarter. Amica Retiree Medical Trust bought a new stake in Perrigo during the second quarter worth $105,000. Johnson Financial Group Inc. raised its stake in 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 in the last quarter. Advisor Group Inc. bought a new stake in Perrigo during the second quarter worth $139,000. Finally, Gardiner Nancy B bought a new stake in Perrigo during the first quarter worth $207,000. Institutional investors own 70.16% of the company’s stock.
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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