Perrigo (NYSE:PRGO) – Equities researchers at Leerink Swann raised their Q1 2018 earnings estimates for shares of Perrigo in a research report issued on Monday, April 16th. Leerink Swann analyst A. Fadia now expects that the company will post earnings per share of $1.14 for the quarter, up from their previous estimate of $1.11. 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 Q2 2018 earnings at $1.23 EPS, Q3 2018 earnings at $1.24 EPS and Q4 2018 earnings at $1.64 EPS.
Several other analysts have also issued reports on the stock. Oppenheimer restated a “buy” rating and set a $98.00 target price on shares of Perrigo in a research report on Tuesday, February 27th. JPMorgan Chase restated a “neutral” rating and set a $83.00 target price (up from $82.00) on shares of Perrigo in a research report on Monday, March 5th. Canaccord Genuity set a $100.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Monday, January 1st. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Friday, January 19th. Finally, Berenberg Bank started coverage on shares of Perrigo in a research report on Thursday, February 1st. They set a “buy” rating and a $117.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $91.88.
Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, March 1st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The company had revenue of $1.28 billion during 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 firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Perrigo by 8.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,741 shares of the company’s stock worth $675,000 after buying an additional 595 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Perrigo by 5.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 12,700 shares of the company’s stock worth $1,107,000 after buying an additional 600 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of Perrigo by 6.1% in the fourth quarter. Norinchukin Bank The now owns 10,472 shares of the company’s stock worth $913,000 after buying an additional 601 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Perrigo by 3.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,067 shares of the company’s stock valued at $2,185,000 after purchasing an additional 765 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Perrigo by 5.0% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,906 shares of the company’s stock valued at $1,780,000 after purchasing an additional 944 shares in the last quarter. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Uwe Roehrhoff bought 7,500 shares of the stock in a transaction dated Monday, March 5th. The shares were purchased at an average price of $81.85 per share, with a total value of $613,875.00. Following the completion of the acquisition, the chief executive officer now owns 4,900 shares of the company’s stock, valued at $401,065. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 6.90% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, March 1st. This is an increase from Perrigo’s previous quarterly dividend of $0.16. Perrigo’s payout ratio is 15.42%.
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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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