Oppenheimer Weighs in on Perrigo Company’s FY2017 Earnings (PRGO)

Perrigo Company (NYSE:PRGO) – Equities researchers at Oppenheimer increased their FY2017 EPS estimates for Perrigo in a research report issued on Sunday. Oppenheimer analyst D. Archila now forecasts that the company will earn $4.94 per share for the year, up from their previous forecast of $4.88. Oppenheimer has a “Buy” rating and a $88.00 price target on the stock. Oppenheimer also issued estimates for Perrigo’s Q1 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $5.49 EPS, FY2019 earnings at $5.82 EPS, FY2020 earnings at $6.22 EPS and FY2021 earnings at $6.54 EPS.

Several other research firms have also weighed in on PRGO. Royal Bank of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $64.00 to $86.00 in a research note on Friday, November 10th. Jefferies Group set a $71.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Sunday, October 29th. UBS Group reiterated a “buy” rating and issued a $98.00 price objective (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Saturday, December 16th. Finally, Canaccord Genuity set a $100.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $92.00.

Shares of Perrigo (NYSE:PRGO) opened at $93.44 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The company has a market cap of $12,940.44, a P/E ratio of -10.20, a P/E/G ratio of 1.95 and a beta of 0.70. Perrigo has a 12-month low of $63.68 and a 12-month high of $93.47.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS.

Several institutional investors and hedge funds have recently made changes to their positions in the company. V Wealth Management LLC bought a new stake in shares of Perrigo during the 4th quarter worth $214,000. Allianz Asset Management GmbH bought a new stake in shares of Perrigo during the 3rd quarter worth $217,000. Conning Inc. bought a new stake in shares of Perrigo during the 3rd quarter worth $219,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Perrigo during the 3rd quarter worth $222,000. Finally, SOL Capital Management CO bought a new stake in shares of Perrigo during the 3rd quarter worth $227,000. Institutional investors own 83.33% of the company’s stock.

In other news, EVP John Wesolowski sold 388 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total transaction of $33,833.60. Following the transaction, the executive vice president now owns 248 shares in the company, valued at approximately $21,625.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $88.52, for a total transaction of $132,780.00. Following the transaction, the vice president now owns 19,565 shares in the company, valued at approximately $1,731,893.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,051 shares of company stock worth $355,370. 6.90% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION NOTICE: “Oppenheimer Weighs in on Perrigo Company’s FY2017 Earnings (PRGO)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/23/oppenheimer-weighs-in-on-perrigo-companys-fy2017-earnings-prgo.html.

About Perrigo

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.

Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply