Perrigo Company PLC (NYSE:PRGO) – Analysts at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for Perrigo in a research note issued on Thursday, August 8th. Jefferies Financial Group analyst D. Steinberg now forecasts that the company will post earnings of $0.81 per share for the quarter, down from their prior estimate of $0.82. Jefferies Financial Group also issued estimates for Perrigo’s FY2021 earnings at $4.61 EPS, FY2022 earnings at $4.90 EPS and FY2023 earnings at $5.13 EPS.
A number of other equities analysts have also recently weighed in on PRGO. Wells Fargo & Co reissued a “hold” rating on shares of Perrigo in a report on Tuesday, July 2nd. SunTrust Banks boosted their price target on Perrigo to $51.00 and gave the stock a “hold” rating in a report on Monday, May 20th. ValuEngine raised Perrigo from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald cut their price target on Perrigo from $107.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.50.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a return on equity of 9.60% and a net margin of 1.87%. Perrigo’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share.
Several large investors have recently made changes to their positions in PRGO. Jacobs Levy Equity Management Inc. boosted its position in shares of Perrigo by 5.4% in the second quarter. Jacobs Levy Equity Management Inc. now owns 85,570 shares of the company’s stock worth $4,075,000 after buying an additional 4,380 shares during the period. BlackRock Inc. lifted its stake in shares of Perrigo by 6.8% in the second quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock worth $430,099,000 after acquiring an additional 571,800 shares in the last quarter. AXA lifted its stake in shares of Perrigo by 2.0% in the second quarter. AXA now owns 343,551 shares of the company’s stock worth $16,360,000 after acquiring an additional 6,599 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in shares of Perrigo by 6.2% in the second quarter. Pictet Asset Management Ltd. now owns 66,487 shares of the company’s stock worth $3,166,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in shares of Perrigo by 295.6% in the second quarter. Commonwealth Bank of Australia now owns 890 shares of the company’s stock worth $42,000 after acquiring an additional 665 shares in the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.
In other Perrigo news, Director Theodore R. Samuels II acquired 4,000 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $46.97 per share, with a total value of $187,880.00. Following the completion of the transaction, the director now directly owns 8,236 shares in the company, valued at $386,844.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. Perrigo’s dividend payout ratio (DPR) is 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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