Wells Fargo & Company reiterated their market perform rating on shares of Perrigo Company (NYSE:PRGO) in a research note released on Tuesday. Wells Fargo & Company currently has a $77.00 price target on the stock.
Several other research firms have also recently issued reports on PRGO. Jefferies Group LLC reaffirmed a hold rating and set a $71.00 price objective (up from $69.00) on shares of Perrigo in a research report on Friday, August 11th. Stifel Nicolaus reaffirmed a hold rating on shares of Perrigo in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) raised Perrigo from a sell rating to a neutral rating and upped their price objective for the stock from $66.00 to $79.00 in a research report on Friday, August 11th. Royal Bank Of Canada upped their price objective on Perrigo from $60.00 to $64.00 and gave the stock an underperform rating in a research report on Friday, August 11th. Finally, Cantor Fitzgerald set a $85.00 price objective on Perrigo and gave the stock a buy rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $86.83.
Shares of Perrigo (NYSE PRGO) opened at 77.27 on Tuesday. The firm has a 50-day moving average price of $73.91 and a 200-day moving average price of $73.22. The stock’s market capitalization is $11.02 billion. Perrigo has a 1-year low of $63.68 and a 1-year high of $99.14.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 EPS. On average, equities research analysts forecast that Perrigo will post $4.58 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, August 23rd. Perrigo’s dividend payout ratio is presently -3.51%.
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank increased its stake in Perrigo by 25.1% in the second quarter. Toronto Dominion Bank now owns 48,394 shares of the company’s stock valued at $3,654,000 after buying an additional 9,702 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Perrigo by 62.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 7,000 shares of the company’s stock valued at $528,000 after buying an additional 2,700 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Perrigo during the second quarter valued at approximately $1,174,000. Bank of Nova Scotia increased its stake in Perrigo by 7.8% in the second quarter. Bank of Nova Scotia now owns 3,469 shares of the company’s stock valued at $262,000 after buying an additional 250 shares in the last quarter. Finally, Roberts Glore & Co. Inc. IL bought a new stake in Perrigo during the second quarter valued at approximately $332,000. 76.30% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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