A number of other brokerages have also weighed in on PRGO. Zacks Investment Research upgraded Perrigo from a strong sell rating to a hold rating in a report on Monday, June 27th. Guggenheim restated a buy rating and issued a $125.00 price objective on shares of Perrigo in a report on Monday, August 22nd. BTIG Research restated a neutral rating on shares of Perrigo in a report on Friday, June 17th. Argus lowered Perrigo from a buy rating to a hold rating in a report on Monday, June 20th. Finally, Bank of America Corp. restated a sell rating and issued a $109.00 price objective on shares of Perrigo in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $113.37.
Perrigo (NYSE:PRGO) opened at 97.40 on Tuesday. The stock has a 50 day moving average of $91.35 and a 200-day moving average of $102.06. Perrigo has a 12-month low of $82.50 and a 12-month high of $167.92. The company’s market capitalization is $13.96 billion.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by $0.05. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 EPS. Equities analysts expect that Perrigo will post $7.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were paid a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.60%. Perrigo’s payout ratio is -60.42%.
In other Perrigo news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $88.28, for a total value of $184,946.60. Following the transaction, the executive vice president now directly owns 16,292 shares in the company, valued at $1,438,257.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $89.95, for a total transaction of $522,969.30. Following the completion of the transaction, the director now owns 31,501 shares in the company, valued at $2,833,514.95. The disclosure for this sale can be found here. Corporate insiders own 4.47% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Amica Retiree Medical Trust bought a new position in shares of Perrigo during the second quarter valued at approximately $105,000. Balentine LLC raised its position in shares of Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock valued at $134,000 after buying an additional 230 shares in the last quarter. Advisor Group Inc. bought a new position in shares of Perrigo during the second quarter valued at approximately $139,000. Johnson Financial Group Inc. raised its position in shares of Perrigo by 858.5% in the second quarter. Johnson Financial Group Inc. now owns 1,524 shares of the company’s stock valued at $139,000 after buying an additional 1,365 shares in the last quarter. Finally, Hall Laurie J Trustee raised its position in shares of Perrigo by 49.1% in the second quarter. Hall Laurie J Trustee now owns 1,670 shares of the company’s stock valued at $156,000 after buying an additional 550 shares in the last quarter. Institutional investors own 71.11% of the company’s stock.
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