Perrigo (PRGO) Raised to Hold at ValuEngine

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

Several other brokerages also recently weighed in on PRGO. Morgan Stanley cut their price objective on shares of Perrigo from $77.00 to $67.00 and set a hold rating on the stock in a research report on Tuesday, November 13th. Wells Fargo & Co cut their price objective on shares of Perrigo from $77.00 to $64.00 and set a market perform rating on the stock in a research report on Wednesday, November 14th. Royal Bank of Canada set a $63.00 price objective on shares of Perrigo and gave the company a hold rating in a research report on Friday, November 9th. Deutsche Bank downgraded shares of Perrigo from a buy rating to a hold rating and dropped their price target for the stock from $93.00 to $78.00 in a research report on Friday, August 10th. Finally, Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the stock a buy rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $82.73.

Shares of NYSE:PRGO opened at $59.93 on Wednesday. The stock has a market capitalization of $8.51 billion, a P/E ratio of 12.16, a PEG ratio of 2.25 and a beta of 0.58. Perrigo has a fifty-two week low of $59.67 and a fifty-two week high of $95.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.26 and a current ratio of 1.85.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 8th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a net margin of 2.54% and a return on equity of 11.32%. Perrigo’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. On average, research analysts expect that Perrigo will post 4.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Friday, November 30th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.27%. Perrigo’s dividend payout ratio (DPR) is 15.42%.

In other Perrigo news, VP Todd W. Kingma acquired 3,200 shares of the stock in a transaction dated Friday, November 9th. The shares were bought at an average price of $63.99 per share, with a total value of $204,768.00. Following the purchase, the vice president now directly owns 23,587 shares of the company’s stock, valued at approximately $1,509,332.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Geoffrey M. Parker acquired 3,000 shares of the 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 directly owns 3,229 shares in the company, valued at $211,015.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,783 shares of company stock worth $1,646,976 over the last 90 days. 6.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Perrigo in the 2nd quarter worth approximately $110,000. NuWave Investment Management LLC grew its stake in shares of Perrigo by 17,377.8% in the 3rd quarter. NuWave Investment Management LLC now owns 1,573 shares of the company’s stock worth $111,000 after purchasing an additional 1,564 shares during the last quarter. Dupont Capital Management Corp grew its stake in shares of Perrigo by 63.8% in the 2nd quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock worth $124,000 after purchasing an additional 664 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Perrigo in the 1st quarter worth approximately $205,000. Finally, Exane Asset Management acquired a new position in shares of Perrigo in the 2nd quarter worth approximately $205,000. 87.50% of the stock is currently owned by institutional investors.

About Perrigo

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.

Further Reading: What is a Reverse Stock Split?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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