Separately, JPMorgan Chase & Co. boosted their price objective on Perrigo from $45.00 to $48.00 and gave the stock an overweight rating in a research report on Wednesday, August 9th.
Perrigo Stock Up 0.5 %
Perrigo (NYSE:PRGO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. Perrigo had a positive return on equity of 6.79% and a negative net margin of 1.22%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts expect that Perrigo will post 2.6 EPS for the current year.
Perrigo Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st were given a dividend of $0.273 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.03%. Perrigo’s dividend payout ratio is presently -259.52%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PRGO. Raymond James & Associates lifted its position in shares of Perrigo by 23.6% during the 1st quarter. Raymond James & Associates now owns 53,302 shares of the company’s stock valued at $2,048,000 after buying an additional 10,189 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Perrigo by 222.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,039 shares of the company’s stock worth $308,000 after purchasing an additional 5,547 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Perrigo by 135.4% during the 1st quarter. Natixis Advisors L.P. now owns 24,726 shares of the company’s stock worth $950,000 after purchasing an additional 14,222 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Perrigo by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,027 shares of the company’s stock worth $1,884,000 after purchasing an additional 4,675 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Perrigo by 4.8% during the 1st quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock worth $465,469,000 after purchasing an additional 554,915 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.
Perrigo Company Profile
Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.
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