Perrigo (PRGO) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Perrigo (NYSE:PRGO) from a strong sell rating to a sell rating in a report released on Friday.

A number of other research analysts also recently issued reports on PRGO. Cantor Fitzgerald reissued a buy rating and set a $107.00 price objective on shares of Perrigo in a research report on Monday, October 8th. Canaccord Genuity set a $90.00 price target on shares of Perrigo and gave the stock a buy rating in a research note on Friday, August 17th. Jefferies Financial Group restated a hold rating and set a $73.00 target price on shares of Perrigo in a research note on Friday, August 10th. Royal Bank of Canada lowered their target price on shares of Perrigo from $89.00 to $67.00 and set a hold rating on the stock in a research note on Friday, August 10th. Finally, Stifel Nicolaus lowered their price objective on shares of Perrigo from $92.00 to $87.00 and set a hold rating on the stock in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Perrigo currently has an average rating of Hold and an average price target of $82.73.

Shares of Perrigo stock opened at $62.79 on Friday. Perrigo has a 1 year low of $62.32 and a 1 year high of $95.93. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.02 and a beta of 0.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.85 and a quick ratio of 1.26.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, November 8th. The company reported $1.09 earnings per share for the quarter, topping 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 firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $1.39 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts predict 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. Stockholders of record on Friday, November 30th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 29th. Perrigo’s payout ratio is 15.42%.

In other Perrigo news, CEO Murray S. Kessler purchased 15,683 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were acquired at an average price of $63.79 per share, with a total value of $1,000,418.57. Following the purchase, the chief executive officer now directly owns 13,416 shares in the company, valued at approximately $855,806.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Geoffrey M. Parker purchased 3,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average cost of $65.35 per share, for a total transaction of $196,050.00. Following the purchase, the director now owns 3,229 shares in the company, valued at $211,015.15. The disclosure for this purchase can be found here. Insiders have purchased 25,783 shares of company stock valued at $1,646,976 over the last quarter. 6.90% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB purchased a new position in Perrigo during the 3rd quarter worth approximately $29,085,000. Neuberger Berman Group LLC grew its stake in shares of Perrigo by 1.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 766,733 shares of the company’s stock valued at $54,284,000 after purchasing an additional 12,816 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Perrigo by 152.5% in the 3rd quarter. AQR Capital Management LLC now owns 50,708 shares of the company’s stock valued at $3,590,000 after purchasing an additional 30,624 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Perrigo by 31.4% in the 3rd quarter. Macquarie Group Ltd. now owns 234,400 shares of the company’s stock valued at $16,596,000 after purchasing an additional 56,000 shares during the last quarter. Finally, Sector Gamma AS grew its stake in shares of Perrigo by 57.0% in the 3rd quarter. Sector Gamma AS now owns 313,220 shares of the company’s stock valued at $22,176,000 after purchasing an additional 113,780 shares during the last quarter. 90.08% of the stock is currently 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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