Perrigo Company (NYSE:PRGO) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Friday, December 1st will be given a dividend of 0.16 per share on Tuesday, December 19th. This represents a $0.64 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th.
Perrigo has increased its dividend payment by an average of 17.2% annually over the last three years and has increased its dividend every year for the last 14 years. Perrigo has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Perrigo to earn $5.26 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 12.2%.
Shares of Perrigo (PRGO) opened at $87.70 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. Perrigo has a 12-month low of $63.68 and a 12-month high of $91.95. The company has a market capitalization of $12,351.76, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. equities analysts predict that Perrigo will post 4.9 EPS for the current year.
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In related news, EVP Sharon Kochan sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $79.03, for a total value of $118,545.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of the sale, the executive vice president now owns 10,118 shares in the company, valued at $905,459.82. The disclosure for this sale can be found here. In the last three months, insiders sold 6,894 shares of company stock worth $581,320. Company insiders own 6.90% of the company’s stock.
Several research firms recently commented on PRGO. Jefferies Group LLC reiterated a “hold” rating and issued a $81.00 target price on shares of Perrigo in a research note on Friday. Cantor Fitzgerald restated a “buy” rating and set a $107.00 price target on shares of Perrigo in a research note on Thursday. Royal Bank Of Canada upgraded Perrigo from an “underperform” rating to a “sector perform” rating and upped their price target for the stock from $64.00 to $86.00 in a research note on Friday. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Finally, Morgan Stanley upped their price target on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $91.50.
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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