Perrigo (NYSE:PRGO) had its price target cut by Wells Fargo from $90.00 to $84.00 in a research report released on Monday, Marketbeat Ratings reports. They currently have a market perform rating on the stock.
PRGO has been the subject of several other research reports. Canaccord Genuity set a $105.00 price objective on Perrigo and gave the stock a buy rating in a report on Monday, March 26th. Oppenheimer set a $98.00 price objective on Perrigo and gave the stock a buy rating in a report on Monday, March 5th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the stock a buy rating in a report on Friday, January 19th. Finally, ValuEngine lowered Perrigo from a hold rating to a sell rating in a research note on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Perrigo presently has an average rating of Hold and an average target price of $93.06.
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Shares of NYSE PRGO opened at $75.86 on Monday. Perrigo has a 12 month low of $75.66 and a 12 month high of $76.20. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $10.46 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Perrigo’s revenue was up 1.9% on a year-over-year basis. sell-side analysts anticipate that Perrigo will post 5.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Friday, June 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 31st. Perrigo’s dividend payout ratio is currently 15.42%.
In related news, CEO Uwe Roehrhoff acquired 7,500 shares of the stock in a transaction on Monday, March 5th. The stock was purchased at an average price of $81.85 per share, for a total transaction of $613,875.00. Following the completion of the transaction, the chief executive officer now owns 4,900 shares of the company’s stock, valued at approximately $401,065. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey C. Smith acquired 50,000 shares of the stock in a transaction on Thursday, May 17th. The stock was bought at an average price of $75.89 per share, with a total value of $3,794,500.00. Following the transaction, the director now directly owns 528 shares of the company’s stock, valued at approximately $40,069.92. The disclosure for this purchase can be found here. Insiders acquired 307,500 shares of company stock valued at $23,210,875 in the last quarter. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PRGO. Nisa Investment Advisors LLC lifted its position in Perrigo by 19.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,300 shares of the company’s stock valued at $1,072,000 after purchasing an additional 2,000 shares during the last quarter. Bank of Montreal Can lifted its position in Perrigo by 140.1% in the fourth quarter. Bank of Montreal Can now owns 225,504 shares of the company’s stock valued at $19,655,000 after purchasing an additional 131,570 shares during the last quarter. E&G Advisors LP bought a new stake in Perrigo in the fourth quarter valued at approximately $288,000. Schwab Charles Investment Management Inc. lifted its position in Perrigo by 9.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 506,255 shares of the company’s stock valued at $44,126,000 after purchasing an additional 44,203 shares during the last quarter. Finally, Oakbrook Investments LLC bought a new stake in Perrigo in the fourth quarter valued at approximately $436,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.
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.