Perrigo Company PLC (NYSE:PRGO) has been assigned a consensus rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $67.64.
Several equities analysts recently weighed in on PRGO shares. Morgan Stanley set a $196.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Wells Fargo & Co reissued a “hold” rating on shares of Perrigo in a research report on Tuesday, July 2nd. SunTrust Banks boosted their price objective on Perrigo to $51.00 and gave the stock a “hold” rating in a research report on Monday, May 20th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective (up previously from $116.00) on shares of Zoetis in a research report on Wednesday, June 12th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its stake in shares of Perrigo by 822.2% during the fourth quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock worth $41,000 after purchasing an additional 962 shares during the last quarter. Northern Trust Corp raised its stake in shares of Perrigo by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,439,882 shares of the company’s stock worth $55,796,000 after purchasing an additional 12,789 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Perrigo by 9.2% during the fourth quarter. Bessemer Group Inc. now owns 4,930 shares of the company’s stock worth $191,000 after purchasing an additional 415 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Perrigo by 31.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,418 shares of the company’s stock worth $1,295,000 after purchasing an additional 8,074 shares during the last quarter. Finally, United Services Automobile Association raised its stake in shares of Perrigo by 1.2% during the fourth quarter. United Services Automobile Association now owns 42,561 shares of the company’s stock worth $1,649,000 after purchasing an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.13. Perrigo had a return on equity of 10.40% and a net margin of 2.43%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, research analysts anticipate that Perrigo will post 3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.66%. This is a positive change from Perrigo’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, May 30th. Perrigo’s payout ratio is currently 18.46%.
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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