Perrigo Co. (PRGO) Stock Rating Reaffirmed by RBC Capital Markets
Perrigo Co. (NYSE:PRGO)‘s stock had its “sector perform” rating reaffirmed by research analysts at RBC Capital Markets in a report released on Tuesday. They currently have a $92.00 price target on the stock. RBC Capital Markets’ price objective points to a potential downside of 1.37% from the stock’s previous close.
Several other research analysts have also commented on PRGO. B. Riley restated a “neutral” rating and issued a $101.00 price objective on shares of Perrigo in a report on Tuesday, June 28th. Royal Bank Of Canada restated a “sector perform” rating and issued a $109.00 price objective on shares of Perrigo in a report on Wednesday, May 25th. BTIG Research restated a “neutral” rating on shares of Perrigo in a report on Friday, June 17th. Barclays PLC reduced their target price on shares of Perrigo from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, August 11th. Finally, Jefferies Group reduced their target price on shares of Perrigo from $97.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $113.37.
Shares of Perrigo (NYSE:PRGO) traded up 0.0758% during mid-day trading on Tuesday, reaching $93.3507. 136,149 shares of the company’s stock traded hands. Perrigo has a 12-month low of $82.50 and a 12-month high of $173.53. The stock’s market cap is $13.38 billion. The firm’s 50 day moving average price is $91.00 and its 200-day moving average price is $102.63.
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Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The company earned $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $2.18 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts forecast that Perrigo will post $7.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Friday, August 26th were paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 24th. Perrigo’s dividend payout ratio (DPR) is presently -60.42%.
In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $90.96, for a total transaction of $97,600.08. Following the sale, the director now owns 10,425 shares in the company, valued at approximately $948,258. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Judy L. Brown sold 2,095 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $88.28, for a total transaction of $184,946.60. Following the sale, the executive vice president now owns 16,292 shares in the company, valued at approximately $1,438,257.76. The disclosure for this sale can be found here. 4.47% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Parnassus Investments CA boosted its stake in Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock worth $498,584,000 after buying an additional 1,922,347 shares during the last quarter. Franklin Resources Inc. boosted its stake in Perrigo by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,661,431 shares of the company’s stock worth $241,311,000 after buying an additional 33,921 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Perrigo by 1.9% in the second quarter. BlackRock Fund Advisors now owns 2,527,908 shares of the company’s stock worth $229,205,000 after buying an additional 48,129 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Perrigo during the second quarter worth approximately $210,657,000. Finally, Aberdeen Asset Management PLC UK boosted its stake in Perrigo by 23.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 2,322,257 shares of the company’s stock worth $210,559,000 after buying an additional 443,511 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.
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