Perrigo Company (PRGO) Expected to Announce Quarterly Sales of $1.17 Billion
Wall Street brokerages expect Perrigo Company (NYSE:PRGO) to announce sales of $1.17 billion for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Perrigo’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.21 billion. Perrigo reported sales of $1.35 billion in the same quarter last year, which would suggest a negative year over year growth rate of 13.3%. The business is scheduled to announce its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Perrigo will report full-year sales of $1.17 billion for the current year, with estimates ranging from $4.74 billion to $4.85 billion. For the next year, analysts forecast that the business will report sales of $4.95 billion per share, with estimates ranging from $4.82 billion to $5.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Perrigo.
Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis.
Several research firms have weighed in on PRGO. Jefferies Group LLC reissued a “hold” rating and issued a $71.00 price objective on shares of Perrigo in a research report on Wednesday, May 24th. Royal Bank Of Canada boosted their price objective on Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday, August 11th. Canaccord Genuity set a $86.00 price objective on Perrigo and gave the stock a “buy” rating in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $68.00 price objective on shares of Perrigo in a research report on Wednesday, May 31st. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Perrigo in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Perrigo presently has an average rating of “Hold” and an average price target of $87.00.
Shares of Perrigo (NYSE:PRGO) opened at 82.79 on Friday. Perrigo has a 1-year low of $63.68 and a 1-year high of $99.14. The company has a 50-day moving average price of $75.91 and a 200-day moving average price of $73.11. The company’s market cap is $11.81 billion.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.77%. Perrigo’s dividend payout ratio is currently -3.51%.
In other news, EVP Sharon Kochan sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $79.03, for a total value of $118,545.00. Following the completion of the transaction, the executive vice president now directly owns 10,349 shares in the company, valued at approximately $817,881.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the completion of the transaction, the executive vice president now owns 2,724 shares of the company’s stock, valued at $209,475.60. The disclosure for this sale can be found here. Insiders sold a total of 2,981 shares of company stock worth $233,731 over the last 90 days. Corporate insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after purchasing an additional 299,328 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Perrigo by 3,825.1% in the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after purchasing an additional 11,844,832 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after purchasing an additional 4,383,903 shares in the last quarter. State Street Corp boosted its holdings in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after purchasing an additional 112,287 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its holdings in shares of Perrigo by 65.2% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after purchasing an additional 1,195,526 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.
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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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