Perrigo (PRGO) Sets New 52-Week Low at $63.50

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Perrigo Company PLC (NYSE:PRGO)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $63.50 and last traded at $64.09, with a volume of 341305 shares changing hands. The stock had previously closed at $75.14.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada set a $63.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Friday. ValuEngine cut shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Thursday. Cantor Fitzgerald restated a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a research note on Monday, October 8th. Wells Fargo & Co dropped their price objective on shares of Perrigo from $84.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, August 21st. Finally, Canaccord Genuity set a $90.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.80.

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 1.81. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.43 and a beta of 0.66.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, November 8th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts predict that Perrigo Company PLC will post 4.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, November 29th. Perrigo’s payout ratio is 15.42%.

In related news, EVP Svend Andersen acquired 3,900 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were purchased at an average price of $63.01 per share, with a total value of $245,739.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Todd W. Kingma acquired 3,200 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were bought at an average cost of $63.99 per share, for a total transaction of $204,768.00. Following the acquisition, the vice president now owns 23,587 shares in the company, valued at $1,509,332.13. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 29,983 shares of company stock worth $1,950,822. 6.90% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Perrigo during the 2nd quarter worth about $110,000. NuWave Investment Management LLC grew its holdings in Perrigo by 17,377.8% during the 3rd quarter. NuWave Investment Management LLC now owns 1,573 shares of the company’s stock worth $111,000 after acquiring an additional 1,564 shares during the last quarter. Dupont Capital Management Corp grew its holdings in Perrigo by 63.8% during the 2nd quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock worth $124,000 after acquiring an additional 664 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Perrigo during the 1st quarter worth about $205,000. Finally, Exane Asset Management bought a new stake in Perrigo during the 2nd quarter worth about $205,000. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

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About Perrigo (NYSE:PRGO)

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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