Perrigo Company plc (NYSE:PRGO) Receives $31.25 Consensus PT from Brokerages

Perrigo Company plc (NYSE:PRGO) has received a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.25.

Several research firms have commented on PRGO. Weiss Ratings reiterated a “sell (d)” rating on shares of Perrigo in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group reduced their target price on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group dropped their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th.

Perrigo Trading Down 3.1%

NYSE:PRGO opened at $20.62 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The firm has a 50-day moving average of $22.09 and a 200-day moving average of $24.72. The company has a market cap of $2.84 billion, a PE ratio of -35.54 and a beta of 0.43. Perrigo has a one year low of $20.43 and a one year high of $30.93.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts expect that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 28th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, November 28th. Perrigo’s payout ratio is currently -200.00%.

Insider Buying and Selling at Perrigo

In other Perrigo news, CFO Eduardo Guarita Bezerra acquired 3,000 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the purchase, the chief financial officer owned 48,949 shares of the company’s stock, valued at approximately $1,113,100.26. This represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey M. Parker acquired 4,375 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $22.97 per share, with a total value of $100,493.75. Following the completion of the purchase, the director directly owned 33,287 shares in the company, valued at $764,602.39. This represents a 15.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,118 shares of company stock valued at $232,699 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Perrigo by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the period. State Street Corp raised its stake in shares of Perrigo by 9.5% during the second quarter. State Street Corp now owns 7,340,323 shares of the company’s stock valued at $196,134,000 after acquiring an additional 637,678 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Perrigo by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock valued at $200,085,000 after buying an additional 146,211 shares during the period. Ion Asset Management Ltd. grew its holdings in Perrigo by 34.7% in the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after purchasing an additional 983,727 shares during the period. Finally, Sound Shore Management Inc. CT grew its holdings in Perrigo by 23.1% in the first quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock worth $92,116,000 after purchasing an additional 616,387 shares during the period. 95.91% of the stock is owned by institutional investors.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.