FY2020 Earnings Forecast for Perrigo Company PLC (NYSE:PRGO) Issued By Svb Leerink
Perrigo Company PLC (NYSE:PRGO) – Svb Leerink reduced their FY2020 earnings per share (EPS) estimates for shares of Perrigo in a research note issued on Thursday, August 8th. Svb Leerink analyst A. Fadia now anticipates that the company will earn $4.23 per share for the year, down from their prior estimate of $4.35. Svb Leerink also issued estimates for Perrigo’s FY2021 earnings at $4.41 EPS, FY2022 earnings at $4.63 EPS and FY2023 earnings at $5.03 EPS.
Other equities analysts have also issued research reports about the company. ValuEngine raised Perrigo from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co restated a “hold” rating on shares of Perrigo in a research note on Tuesday, July 2nd. Cantor Fitzgerald decreased their price objective on shares of Perrigo from $107.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Finally, SunTrust Banks upped their price objective on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $59.50.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a return on equity of 9.60% and a net margin of 1.87%. Perrigo’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in PRGO. BlackRock Inc. lifted its position in Perrigo by 6.8% in the second quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock valued at $430,099,000 after purchasing an additional 571,800 shares during the period. Parnassus Investments CA lifted its position in Perrigo by 89.7% in the second quarter. Parnassus Investments CA now owns 3,700,000 shares of the company’s stock valued at $176,194,000 after purchasing an additional 1,750,000 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its position in Perrigo by 2.6% in the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,214,899 shares of the company’s stock valued at $105,473,000 after purchasing an additional 56,700 shares during the period. Geode Capital Management LLC lifted its position in Perrigo by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 1,687,709 shares of the company’s stock valued at $65,286,000 after purchasing an additional 186,095 shares during the period. Finally, Northern Trust Corp lifted its position in Perrigo by 0.5% in the second quarter. Northern Trust Corp now owns 1,529,081 shares of the company’s stock valued at $72,814,000 after purchasing an additional 7,836 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.
In other Perrigo news, Director Theodore R. Samuels II bought 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $46.97 per share, for a total transaction of $187,880.00. Following the completion of the purchase, the director now owns 8,236 shares of the company’s stock, valued at $386,844.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. 7.70% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Perrigo’s dividend payout ratio (DPR) is 18.46%.
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. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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