Perrigo Company PLC (PRGO) Receives $82.00 Consensus Price Target from Analysts

Perrigo Company PLC (NYSE:PRGO) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $82.00.

Several equities analysts have recently commented on PRGO shares. Canaccord Genuity set a $90.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a report on Friday, August 17th. ValuEngine lowered shares of Perrigo from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Royal Bank of Canada set a $63.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a report on Friday, November 9th. Deutsche Bank lowered shares of Perrigo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $93.00 to $78.00 in a report on Friday, August 10th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a report on Monday, October 8th.

In other Perrigo news, Director Geoffrey M. Parker bought 3,000 shares of Perrigo stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $65.35 per share, for a total transaction of $196,050.00. Following the acquisition, the director now directly owns 3,229 shares in the company, valued at $211,015.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd W. Kingma bought 3,200 shares of Perrigo stock in a transaction on Friday, November 9th. The shares were acquired at an average price of $63.99 per share, for a total transaction of $204,768.00. Following the completion of the acquisition, the vice president now owns 23,587 shares in the company, valued at $1,509,332.13. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 25,783 shares of company stock worth $1,646,976. 6.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PRGO. FMR LLC lifted its holdings in Perrigo by 114.3% during the 3rd quarter. FMR LLC now owns 11,080,094 shares of the company’s stock worth $784,471,000 after buying an additional 5,909,969 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in Perrigo during the 3rd quarter worth approximately $136,248,000. Ceredex Value Advisors LLC lifted its holdings in Perrigo by 132.0% during the 3rd quarter. Ceredex Value Advisors LLC now owns 2,828,159 shares of the company’s stock worth $200,234,000 after buying an additional 1,609,009 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its position in shares of Perrigo by 457.8% in the 3rd quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 1,677,199 shares of the company’s stock valued at $118,746,000 after purchasing an additional 1,376,543 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Perrigo in the 3rd quarter valued at approximately $47,818,000. Institutional investors own 87.50% of the company’s stock.

Shares of Perrigo stock traded up $0.14 during mid-day trading on Thursday, hitting $63.59. The stock had a trading volume of 78,319 shares, compared to its average volume of 1,639,964. Perrigo has a 12-month low of $59.88 and a 12-month high of $95.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.85 and a quick ratio of 1.26. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.59.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, November 8th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. Perrigo had a net margin of 2.54% and a return on equity of 11.32%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts expect that Perrigo will post 4.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. Perrigo’s dividend payout ratio (DPR) is presently 15.42%.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Analyst Recommendations for Perrigo (NYSE:PRGO)

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