Perrigo Company PLC (NYSE:PRGO) shares hit a new 52-week low on Friday . The stock traded as low as $57.22 and last traded at $57.91, with a volume of 50127 shares traded. The stock had previously closed at $58.51.
PRGO has been the subject of several research analyst reports. ValuEngine lowered shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Wells Fargo & Co lowered their target price on shares of Perrigo from $84.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, August 21st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $107.00 target price on shares of Perrigo in a research note on Monday, October 8th. Morgan Stanley lowered their target price on shares of Perrigo from $77.00 to $67.00 and set a “hold” rating for the company in a research note on Tuesday, November 13th. Finally, Royal Bank of Canada set a $63.00 target price on shares of Perrigo and gave the stock a “hold” rating in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Perrigo presently has a consensus rating of “Hold” and a consensus price target of $82.00.
The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.26 and a current ratio of 1.85. The company has a market cap of $7.74 billion, a P/E ratio of 11.75, a P/E/G ratio of 2.05 and a beta of 0.58.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Perrigo had a net margin of 2.54% and a return on equity of 11.32%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts anticipate that Perrigo Company PLC will post 4.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, November 29th. Perrigo’s payout ratio is 15.42%.
In other news, VP Todd W. Kingma bought 3,200 shares of Perrigo stock in a transaction that occurred on Friday, November 9th. The shares were purchased at an average price of $63.99 per share, with a total value of $204,768.00. Following the completion of the acquisition, the vice president now directly owns 23,587 shares in the company, valued at $1,509,332.13. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Murray S. Kessler bought 15,683 shares of Perrigo stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average cost of $63.79 per share, for a total transaction of $1,000,418.57. Following the acquisition, the chief executive officer now owns 13,416 shares of the company’s stock, valued at $855,806.64. The disclosure for this purchase can be found here. In the last three months, insiders bought 25,783 shares of company stock valued at $1,646,976. Insiders own 6.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. NuWave Investment Management LLC raised its holdings in Perrigo by 17,377.8% in the third quarter. NuWave Investment Management LLC now owns 1,573 shares of the company’s stock valued at $111,000 after acquiring an additional 1,564 shares in the last quarter. Exane Asset Management acquired a new stake in Perrigo in the second quarter valued at approximately $205,000. Blue Sky Asset Management LLC acquired a new stake in Perrigo in the third quarter valued at approximately $210,000. Gideon Capital Advisors Inc. acquired a new stake in Perrigo in the second quarter valued at approximately $250,000. Finally, Cadence Capital Management LLC acquired a new stake in Perrigo in the third quarter valued at approximately $244,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.
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About Perrigo (NYSE:PRGO)
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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