Perrigo Company PLC (NYSE:PRGO)’s stock price shot up 12.6% during trading on Tuesday . The company traded as high as $56.96 and last traded at $56.91, 3,153,400 shares changed hands during trading. An increase of 143% from the average session volume of 1,300,068 shares. The stock had previously closed at $50.54.
Several equities research analysts have weighed in on the stock. SunTrust Banks raised their price objective on shares of Perrigo from $51.00 to $55.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. They noted that the move was a valuation call. Argus upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Co increased their price target on shares of Perrigo from $45.00 to $52.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. ValuEngine cut shares of Perrigo from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Finally, TheStreet raised shares of Perrigo from a “d+” rating to a “c-” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.80.
The firm has a 50 day moving average price of $52.09 and a 200-day moving average price of $51.43. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 4.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.07 and a quick ratio of 1.32.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.11. Perrigo had a return on equity of 9.39% and a net margin of 5.24%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Perrigo Company PLC will post 3.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Wednesday, November 27th. Perrigo’s dividend payout ratio (DPR) is 18.46%.
In other Perrigo news, EVP Ronald Craig Janish sold 2,424 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $49.90, for a total transaction of $120,957.60. Following the transaction, the executive vice president now owns 6,006 shares in the company, valued at $299,699.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Grainne Quinn sold 2,050 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $49.08, for a total value of $100,614.00. Following the transaction, the executive vice president now owns 3,047 shares of the company’s stock, valued at $149,546.76. The disclosure for this sale can be found here. Insiders sold 6,774 shares of company stock worth $347,865 over the last 90 days. 7.70% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Perrigo by 3.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,500 shares of the company’s stock valued at $363,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perrigo by 1.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,967 shares of the company’s stock worth $1,563,000 after acquiring an additional 307 shares in the last quarter. Advisor Partners LLC grew its stake in Perrigo by 6.2% in the third quarter. Advisor Partners LLC now owns 5,786 shares of the company’s stock valued at $323,000 after acquiring an additional 339 shares during the period. Meeder Asset Management Inc. grew its stake in Perrigo by 1.6% in the third quarter. Meeder Asset Management Inc. now owns 26,540 shares of the company’s stock valued at $1,483,000 after acquiring an additional 411 shares during the period. Finally, CSat Investment Advisory L.P. increased its holdings in shares of Perrigo by 43.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,527 shares of the company’s stock worth $72,000 after acquiring an additional 460 shares in the last quarter. 86.46% of the stock is owned by institutional investors.
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. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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