Perrigo Company plc (NYSE:PRGO – Get Free Report) has earned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $48.00.
Several research analysts have recently commented on the company. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. JPMorgan Chase & Co. lifted their target price on Perrigo from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th.
Read Our Latest Stock Report on PRGO
Perrigo Trading Up 3.3 %
PRGO opened at $36.15 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.62 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average is $35.76 and its two-hundred day moving average is $35.41. The company has a market capitalization of $4.89 billion, a P/E ratio of -86.07 and a beta of 0.81. Perrigo has a 52 week low of $30.78 and a 52 week high of $41.44.
Perrigo (NYSE:PRGO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 1.22% and a positive return on equity of 6.79%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. Analysts forecast that Perrigo will post 2.6 earnings per share for the current year.
Perrigo Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Friday, September 1st will be given a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, August 31st. Perrigo’s dividend payout ratio is currently -259.52%.
Insiders Place Their Bets
In related news, Director Geoffrey M. Parker acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average price of $33.06 per share, for a total transaction of $330,600.00. Following the completion of the acquisition, the director now directly owns 25,879 shares in the company, valued at approximately $855,559.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.
Hedge Funds Weigh In On Perrigo
Hedge funds have recently made changes to their positions in the company. Wolf Hill Capital Management LP grew its stake in Perrigo by 168.9% during the 1st quarter. Wolf Hill Capital Management LP now owns 3,959,634 shares of the company’s stock valued at $142,032,000 after purchasing an additional 2,486,987 shares during the last quarter. Perpetual Ltd purchased a new stake in Perrigo in the first quarter valued at approximately $80,016,000. Norges Bank acquired a new position in Perrigo in the 4th quarter worth approximately $45,075,000. Millennium Management LLC raised its position in Perrigo by 256.1% during the 4th quarter. Millennium Management LLC now owns 1,420,648 shares of the company’s stock worth $48,430,000 after buying an additional 1,021,709 shares during the last quarter. Finally, Cannell & Co. acquired a new stake in Perrigo during the 1st quarter valued at approximately $35,279,000. 95.74% of the stock is owned by institutional investors and hedge funds.
Perrigo Company Profile
(Get Free Report
Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.
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