Perrigo’s (PRGO) “Sector Perform” Rating Reiterated at RBC Capital Markets
RBC Capital Markets reaffirmed their sector perform rating on shares of Perrigo Co. (NYSE:PRGO) in a research note published on Tuesday morning. They currently have a $92.00 price target on the stock.
Several other research analysts have also recently commented on PRGO. Royal Bank Of Canada restated a sector perform rating and set a $109.00 target price on shares of Perrigo in a report on Wednesday, May 25th. Bank of America Corp. restated a sell rating and set a $109.00 target price on shares of Perrigo in a report on Wednesday, June 15th. Raymond James Financial Inc. restated a hold rating on shares of Perrigo in a report on Wednesday, June 15th. BTIG Research restated a neutral rating on shares of Perrigo in a report on Friday, June 17th. Finally, Argus cut shares of Perrigo from a buy rating to a hold rating in a report on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $113.37.
Perrigo (NYSE:PRGO) opened at 93.69 on Tuesday. The stock’s 50 day moving average is $91.12 and its 200 day moving average is $102.32. The company’s market cap is $13.42 billion. Perrigo has a 12-month low of $82.50 and a 12-month high of $170.73.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company earned $2.18 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Perrigo will post $7.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.62%. The ex-dividend date was Wednesday, August 24th. Perrigo’s dividend payout ratio is currently -60.42%.
In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $90.96, for a total value of $97,600.08. Following the transaction, the director now directly owns 10,425 shares of the company’s stock, valued at approximately $948,258. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Judy L. Brown sold 2,095 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $88.28, for a total transaction of $184,946.60. Following the completion of the transaction, the executive vice president now directly owns 16,292 shares in the company, valued at $1,438,257.76. The disclosure for this sale can be found here. 4.47% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PRGO. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Perrigo during the second quarter valued at approximately $210,657,000. Parnassus Investments CA raised its stake in shares of Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock valued at $498,584,000 after buying an additional 1,922,347 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Perrigo by 157.9% in the second quarter. Manning & Napier Advisors LLC now owns 2,263,634 shares of the company’s stock valued at $205,242,000 after buying an additional 1,385,904 shares during the period. Boston Partners raised its stake in shares of Perrigo by 392.8% in the second quarter. Boston Partners now owns 1,178,083 shares of the company’s stock valued at $106,817,000 after buying an additional 939,031 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Perrigo by 29.5% in the first quarter. Franklin Resources Inc. now owns 2,627,510 shares of the company’s stock valued at $336,140,000 after buying an additional 599,150 shares during the period. 71.11% of the stock is currently owned by hedge funds and other institutional investors.
Perrigo Company Profile
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