Wall Street analysts forecast that Perrigo Company (NYSE:PRGO) will report sales of $1.17 billion for the current quarter, Zacks reports. Thirteen analysts have made estimates for Perrigo’s earnings, with estimates ranging from $1.15 billion to $1.21 billion. Perrigo posted sales of $1.35 billion during the same quarter last year, which would indicate a negative year over year growth rate of 13.3%. The company is scheduled to issue its next earnings report 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 fiscal year, analysts forecast that the firm will report sales of $4.95 billion per share, with estimates ranging from $4.82 billion to $5.06 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Perrigo.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. Perrigo’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.93 EPS.
A number of analysts have commented on the stock. UBS AG reaffirmed a “buy” rating and set a $98.00 target price (up from $84.00) on shares of Perrigo in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a report on Monday, October 2nd. They set a “buy” rating and a $88.00 target price for the company. BidaskClub raised shares of Perrigo from a “sell” rating to a “hold” rating in a report on Saturday, September 16th. Deutsche Bank AG upped their target price on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 target price on shares of Perrigo in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $88.50.
In related news, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the completion of the transaction, the executive vice president now owns 2,724 shares in the company, valued at $209,475.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Korea Investment CORP boosted its position in shares of Perrigo by 142.0% during the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after acquiring an additional 781 shares during the last quarter. Commonwealth Bank of Australia boosted its position in shares of Perrigo by 13.8% during the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Perrigo by 56.4% during the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after acquiring an additional 855 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Perrigo by 1,046.2% during the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after acquiring an additional 2,040 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Perrigo by 2.5% during the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock worth $214,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Perrigo (NYSE:PRGO) opened at 87.04 on Tuesday. Perrigo has a 12-month low of $63.68 and a 12-month high of $92.64. The company’s market capitalization is $12.41 billion. The company has a 50-day moving average of $84.49 and a 200 day moving average of $75.53.
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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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