Equities research analysts expect that Perrigo Company plc (NYSE:PRGO) will report $1.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Perrigo’s earnings, with the highest sales estimate coming in at $1.23 billion and the lowest estimate coming in at $1.19 billion. Perrigo posted sales of $1.19 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The business is expected to issue its next quarterly earnings results on Tuesday, May 29th.
On average, analysts expect that Perrigo will report full-year sales of $1.21 billion for the current fiscal year, with estimates ranging from $5.02 billion to $5.10 billion. For the next year, analysts anticipate that the firm will post sales of $5.17 billion per share, with estimates ranging from $4.99 billion to $5.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Perrigo.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, March 1st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. Perrigo had a net margin of 2.42% and a return on equity of 11.54%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS.
A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Perrigo to $93.00 and gave the company an “overweight” rating in a research note on Monday, December 4th. Canaccord Genuity restated a “buy” rating and issued a $100.00 target price on shares of Perrigo in a research note on Wednesday, January 17th. Leerink Swann initiated coverage on shares of Perrigo in a research note on Tuesday, January 2nd. They set a “market perform” rating and a $90.00 price objective on the stock. Royal Bank of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $86.00 in a research note on Friday, November 10th. Finally, Wells Fargo & Co increased their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $91.88.
In other Perrigo news, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the sale, the vice president now owns 19,565 shares in the company, valued at $1,731,893.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Wesolowski purchased 700 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $85.80 per share, for a total transaction of $60,060.00. The disclosure for this purchase can be found here. Insiders sold 3,450 shares of company stock worth $302,951 in the last 90 days. 6.90% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in PRGO. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Perrigo by 356.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,436,621 shares of the company’s stock valued at $125,216,000 after purchasing an additional 1,122,068 shares during the period. Victory Capital Management Inc. increased its stake in shares of Perrigo by 90.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,046,980 shares of the company’s stock valued at $178,414,000 after purchasing an additional 972,210 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Perrigo in the fourth quarter valued at approximately $36,866,000. Greenlight Capital Inc. increased its stake in shares of Perrigo by 14.8% in the third quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock valued at $245,572,000 after purchasing an additional 374,032 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Perrigo by 289.2% in the fourth quarter. Renaissance Technologies LLC now owns 448,408 shares of the company’s stock valued at $39,083,000 after purchasing an additional 333,200 shares during the period. Institutional investors own 78.23% of the company’s stock.
Shares of Perrigo (PRGO) opened at $82.42 on Wednesday. The stock has a market cap of $11,662.43, a PE ratio of 16.76, a PEG ratio of 1.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.40. Perrigo has a 12 month low of $63.68 and a 12 month high of $95.93.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Friday, March 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. This is a positive change from Perrigo’s previous quarterly dividend of $0.16. Perrigo’s dividend payout ratio (DPR) is presently 90.48%.
Perrigo Company Profile
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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