Perrigo (PRGO) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Perrigo (NYSE:PRGO) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Co cut their target price on shares of Perrigo from $84.00 to $77.00 and set a market perform rating on the stock in a research note on Tuesday, August 21st. Cantor Fitzgerald reaffirmed a buy rating and set a $107.00 price target on shares of Perrigo in a report on Monday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Perrigo from $83.00 to $75.00 and set a neutral rating for the company in a report on Friday, August 10th. Morgan Stanley lowered their price target on shares of Perrigo from $77.00 to $67.00 and set a hold rating for the company in a report on Tuesday, November 13th. Finally, Royal Bank of Canada set a $63.00 price target on shares of Perrigo and gave the company a hold rating in a report on Friday, November 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $82.73.

Shares of PRGO stock opened at $59.93 on Wednesday. Perrigo has a 52 week low of $59.67 and a 52 week high of $95.93. The company has a current ratio of 1.85, a quick ratio of 1.26 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $8.51 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.25 and a beta of 0.58.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts expect that Perrigo will post 4.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Friday, November 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, November 29th. Perrigo’s payout ratio is 15.42%.

In related news, EVP Svend Andersen acquired 3,900 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was bought at an average cost of $63.01 per share, with a total value of $245,739.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Todd W. Kingma acquired 3,200 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were bought at an average cost of $63.99 per share, with a total value 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 ninety days, insiders have purchased 25,783 shares of company stock valued at $1,646,976. Company insiders own 6.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Starboard Value LP grew its holdings in Perrigo by 4.1% during the 2nd quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock worth $732,120,000 after acquiring an additional 400,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Perrigo by 8.8% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 557,670 shares of the company’s stock worth $39,483,000 after acquiring an additional 45,205 shares in the last quarter. BlackRock Inc. grew its holdings in Perrigo by 1.7% during the 2nd quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock worth $643,897,000 after acquiring an additional 148,761 shares in the last quarter. Van ECK Associates Corp grew its holdings in Perrigo by 20.0% during the 2nd quarter. Van ECK Associates Corp now owns 208,790 shares of the company’s stock worth $15,223,000 after acquiring an additional 34,794 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in Perrigo during the 2nd quarter worth $796,000. 87.50% of the stock is owned by institutional investors.

Perrigo Company Profile

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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