Perrigo Company plc (NYSE:PRGO) Receives $33.00 Average Price Target from Brokerages

Shares of Perrigo Company plc (NYSE:PRGO) have received an average rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $33.00.

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Sunday, August 24th. Canaccord Genuity Group dropped their price objective on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th.

Perrigo Price Performance

NYSE PRGO opened at $23.35 on Monday. The company has a market cap of $3.21 billion, a PE ratio of -40.25 and a beta of 0.48. Perrigo has a 52 week low of $21.03 and a 52 week high of $30.93. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $25.63 and its two-hundred day simple moving average is $26.17.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. Perrigo’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Research analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.0%. Perrigo’s dividend payout ratio is currently -200.00%.

Insider Activity

In related news, Director Geoffrey M. Parker purchased 4,375 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the transaction, the director directly owned 33,287 shares in the company, valued at approximately $764,602.39. This represents a 15.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Willis purchased 1,488 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the transaction, the executive vice president owned 41,939 shares of the company’s stock, valued at approximately $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,863 shares of company stock worth $204,575 over the last ninety days. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its position in shares of Perrigo by 439.1% during the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after buying an additional 786 shares during the period. Huntington National Bank increased its position in shares of Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after purchasing an additional 742 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Perrigo by 54.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after purchasing an additional 424 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Perrigo by 101.0% in the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after purchasing an additional 620 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Perrigo in the first quarter worth approximately $42,000. 95.91% of the stock is currently owned by institutional investors.

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.