Cantor Fitzgerald Reiterates “Overweight” Rating for Perrigo (PRGO)

Cantor Fitzgerald restated their overweight rating on shares of Perrigo (NYSE:PRGO) in a research note published on Friday. Cantor Fitzgerald also issued estimates for Perrigo’s FY2018 earnings at $4.98 EPS and FY2019 earnings at $5.59 EPS.

Other equities analysts have also issued reports about the stock. Canaccord Genuity set a $105.00 target price on shares of Perrigo and gave the company a buy rating in a report on Monday, May 14th. Oppenheimer set a $98.00 target price on shares of Perrigo and gave the company a buy rating in a report on Friday, May 11th. Finally, TheStreet lowered shares of Perrigo from a c- rating to a d+ rating in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, ten 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 $93.69.

Shares of PRGO opened at $75.12 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.53. Perrigo has a one year low of $63.68 and a one year high of $95.93. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.77 and a beta of 0.76.

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 net margin of 2.59% and a return on equity of 11.93%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the business posted $1.05 earnings per share. Perrigo’s quarterly revenue was up 1.9% compared to the same quarter last year. sell-side analysts predict that Perrigo will post 5.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 19th. Investors of record on Friday, June 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. Perrigo’s payout ratio is currently 15.42%.

In other news, Director Jeffrey C. Smith acquired 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was bought at an average cost of $75.21 per share, for a total transaction of $18,802,500.00. Following the acquisition, the director now directly owns 528 shares in the company, valued at $39,710.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey C. Smith acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The stock was purchased at an average price of $75.89 per share, with a total value of $3,794,500.00. Following the completion of the acquisition, the director now owns 528 shares in the company, valued at $40,069.92. The disclosure for this purchase can be found here. 6.90% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Twin Tree Management LP grew its position in Perrigo by 271.0% in the 1st quarter. Twin Tree Management LP now owns 2,223 shares of the company’s stock worth $185,000 after purchasing an additional 3,523 shares during the period. Allianz Asset Management GmbH bought a new stake in Perrigo in the 1st quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd bought a new stake in Perrigo in the 1st quarter worth approximately $208,000. Dean Capital Investments Management LLC bought a new stake in Perrigo in the 1st quarter worth approximately $209,000. Finally, ARP Americas LP bought a new stake in Perrigo in the 4th quarter worth approximately $212,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Perrigo Company Profile

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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