Perrigo to Post FY2020 Earnings of $5.65 Per Share, Leerink Swann Forecasts (PRGO)

Perrigo (NYSE:PRGO) – Equities research analysts at Leerink Swann reduced their FY2020 EPS estimates for shares of Perrigo in a research note issued to investors on Monday, April 16th. Leerink Swann analyst A. Fadia now expects that the company will post earnings of $5.65 per share for the year, down from their previous estimate of $5.70. Leerink Swann currently has a “Market Perform” rating and a $90.00 target price on the stock. Leerink Swann also issued estimates for Perrigo’s FY2021 earnings at $5.92 EPS and FY2022 earnings at $6.20 EPS.

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Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, March 1st. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Perrigo had a return on equity of 11.54% and a net margin of 2.42%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on PRGO. Canaccord Genuity set a $105.00 price objective on Perrigo and gave the company a “buy” rating in a research note on Monday. Oppenheimer set a $98.00 target price on Perrigo and gave the stock a “buy” rating in a research note on Monday, March 5th. Finally, Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a “buy” rating in a research note on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Perrigo has an average rating of “Hold” and a consensus target price of $91.88.

Shares of NYSE PRGO opened at $81.47 on Tuesday. Perrigo has a twelve month low of $63.68 and a twelve month high of $95.93. The company has a quick ratio of 1.40, a current ratio of 1.96 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $11,375.13, a PE ratio of 16.53, a PEG ratio of 2.00 and a beta of 0.76.

Several large investors have recently added to or reduced their stakes in PRGO. Dupont Capital Management Corp purchased a new stake in shares of Perrigo in the 4th quarter valued at about $104,000. ARP Americas LP purchased a new stake in shares of Perrigo in the 4th quarter valued at about $212,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Perrigo in the 4th quarter valued at about $213,000. V Wealth Management LLC purchased a new stake in shares of Perrigo in the 4th quarter valued at about $214,000. Finally, Investors Research Corp purchased a new stake in shares of Perrigo in the 4th quarter valued at about $214,000. 79.16% of the stock is owned by institutional investors and hedge funds.

In other Perrigo news, CEO Uwe Roehrhoff acquired 7,500 shares of the stock in a transaction dated Monday, March 5th. The stock was acquired at an average cost of $81.85 per share, with a total value of $613,875.00. Following the transaction, the chief executive officer now owns 4,900 shares in the company, valued at approximately $401,065. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.90% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd were given a dividend of $0.19 per share. This is a boost from Perrigo’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, March 1st. Perrigo’s dividend payout ratio is currently 15.42%.

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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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