Perrigo Company plc (NYSE:PRGO – Get Free Report) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.00.
Several equities analysts have commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday.
Get Our Latest Research Report on PRGO
Perrigo Stock Performance
Perrigo (NYSE:PRGO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that Perrigo will post 2.56 EPS for the current year.
Perrigo Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, November 29th. Perrigo’s payout ratio is -94.02%.
Insider Activity at Perrigo
In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Perrigo
Hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its position in shares of Perrigo by 1.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 119,298 shares of the company’s stock worth $3,064,000 after buying an additional 1,357 shares during the period. American Century Companies Inc. raised its position in shares of Perrigo by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 24,334 shares of the company’s stock valued at $625,000 after acquiring an additional 2,929 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Perrigo by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after purchasing an additional 249,640 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Perrigo by 4.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 301,570 shares of the company’s stock worth $7,744,000 after purchasing an additional 12,254 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Perrigo by 3.3% in the 2nd quarter. Amalgamated Bank now owns 85,350 shares of the company’s stock worth $2,192,000 after purchasing an additional 2,752 shares during the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.
About Perrigo
Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.
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