Perrigo Company plc (PRGO) – What Are Analysts Saying About This Stock?

Shares of Perrigo Company plc (NYSE:PRGO) have received a consensus rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.50.

A number of brokerages have recently issued reports on PRGO. Canaccord Genuity Group upped their price objective on shares of Perrigo from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 29th. Wall Street Zen lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Perrigo in a research note on Tuesday.

Perrigo Price Performance

Shares of PRGO stock traded up $0.01 on Friday, reaching $15.72. The company’s stock had a trading volume of 2,314,630 shares, compared to its average volume of 2,432,304. The company has a market capitalization of $2.18 billion, a P/E ratio of -1.23, a PEG ratio of 1.81 and a beta of 0.71. Perrigo has a 12-month low of $9.23 and a 12-month high of $16.81. The stock’s 50 day simple moving average is $14.96 and its 200-day simple moving average is $12.50. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $988.60 million for the quarter, compared to analyst estimates of $984.80 million. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities analysts predict that Perrigo will post 2.24 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, November 27th. Perrigo’s payout ratio is -9.09%.

Hedge Funds Weigh In On Perrigo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC lifted its position in Perrigo by 3.9% in the third quarter. Sound Income Strategies LLC now owns 1,615,467 shares of the company’s stock valued at $23,424,000 after purchasing an additional 60,838 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Perrigo by 25.5% in the first quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock worth $16,847,000 after purchasing an additional 318,248 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Perrigo by 125.5% in the first quarter. First Trust Advisors LP now owns 1,496,244 shares of the company’s stock worth $16,070,000 after buying an additional 832,686 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Perrigo by 29.7% in the first quarter. Gamco Investors INC. ET AL now owns 1,397,866 shares of the company’s stock worth $15,013,000 after buying an additional 320,081 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Perrigo by 51.7% during the 3rd quarter. ProShare Advisors LLC now owns 959,053 shares of the company’s stock valued at $14,156,000 after buying an additional 326,797 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Company Profile

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.