Perrigo Company to Post FY2017 Earnings of $4.90 Per Share, Leerink Swann Forecasts (PRGO)

Perrigo Company (NYSE:PRGO) – Research analysts at Leerink Swann issued their FY2017 earnings per share (EPS) estimates for Perrigo in a research report issued on Tuesday. Leerink Swann analyst A. Fadia anticipates that the company will earn $4.90 per share for the year. Leerink Swann has a “Market Perform” rating and a $90.00 price target on the stock. Leerink Swann also issued estimates for Perrigo’s Q4 2017 earnings at $1.25 EPS, FY2018 earnings at $5.40 EPS, FY2019 earnings at $5.80 EPS, FY2020 earnings at $5.85 EPS and FY2021 earnings at $6.09 EPS.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 9th. Royal Bank of Canada reiterated a “sell” rating and issued a $64.00 target price on shares of Perrigo in a research report on Wednesday, September 13th. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 target price (up from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Finally, Morgan Stanley increased their target price on shares of Perrigo from $79.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Perrigo presently has an average rating of “Hold” and an average target price of $92.00.

Shares of Perrigo (NYSE PRGO) opened at $91.18 on Friday. The company has a market cap of $12,830.00, a PE ratio of -9.95, a PEG ratio of 1.73 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. Perrigo has a 12-month low of $63.68 and a 12-month high of $92.04.

A number of hedge funds have recently made changes to their positions in PRGO. Russell Investments Group Ltd. boosted its stake in Perrigo by 5.7% during the second quarter. Russell Investments Group Ltd. now owns 13,686 shares of the company’s stock worth $1,034,000 after buying an additional 736 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Perrigo by 4.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 429,676 shares of the company’s stock worth $32,450,000 after buying an additional 18,095 shares during the period. Victory Capital Management Inc. boosted its stake in Perrigo by 37.5% during the second quarter. Victory Capital Management Inc. now owns 31,736 shares of the company’s stock worth $2,397,000 after buying an additional 8,652 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Perrigo by 5.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 20,245 shares of the company’s stock worth $1,530,000 after buying an additional 1,037 shares during the period. Finally, Andra AP fonden purchased a new position in Perrigo during the second quarter worth about $1,148,000. 83.29% of the stock is owned by institutional investors.

In other Perrigo news, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the transaction, the vice president now owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Wesolowski sold 388 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total transaction of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares of the company’s stock, valued at approximately $21,625.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,051 shares of company stock valued at $355,370. 6.90% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, November 30th. Perrigo’s payout ratio is currently -6.99%.

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About Perrigo

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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