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.
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