Piper Sandler assumed coverage on shares of Perrigo (NYSE:PRGO – Free Report) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued an overweight rating and a $37.00 target price on the stock.
Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Perrigo from a buy rating to a hold rating in a research report on Wednesday, November 15th. JPMorgan Chase & Co. increased their target price on Perrigo from $45.00 to $48.00 and gave the company an overweight rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Perrigo currently has an average rating of Moderate Buy and an average target price of $44.25.
Perrigo Stock Performance
Perrigo (NYSE:PRGO – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a return on equity of 6.98% and a net margin of 0.15%. Perrigo’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. Analysts expect that Perrigo will post 2.55 EPS for the current fiscal year.
Perrigo Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be issued a $0.273 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.09 dividend on an annualized basis and a yield of 3.59%. Perrigo’s dividend payout ratio (DPR) is presently 2,180.00%.
Insider Activity at Perrigo
In related news, EVP Alison Ives bought 2,040 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $29.34 per share, for a total transaction of $59,853.60. Following the completion of the acquisition, the executive vice president now owns 10,380 shares in the company, valued at approximately $304,549.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Perrigo news, CFO Eduardo Guarita Bezerra purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $29.18 per share, for a total transaction of $145,900.00. Following the completion of the purchase, the chief financial officer now directly owns 8,428 shares in the company, valued at $245,929.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alison Ives purchased 2,040 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average price of $29.34 per share, for a total transaction of $59,853.60. Following the completion of the purchase, the executive vice president now owns 10,380 shares of the company’s stock, valued at $304,549.20. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 18,040 shares of company stock worth $524,644. Company insiders own 0.70% of the company’s stock.
Institutional Trading of Perrigo
A number of hedge funds and other institutional investors have recently made changes to their positions in PRGO. CWM LLC increased its position in Perrigo by 73.0% in the 1st quarter. CWM LLC now owns 699 shares of the company’s stock valued at $25,000 after acquiring an additional 295 shares during the period. Dark Forest Capital Management LP acquired a new position in Perrigo in the 1st quarter valued at about $31,000. Ronald Blue Trust Inc. increased its position in Perrigo by 132.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock valued at $39,000 after acquiring an additional 659 shares during the period. Parallel Advisors LLC increased its position in Perrigo by 434.8% in the 1st quarter. Parallel Advisors LLC now owns 1,214 shares of the company’s stock valued at $44,000 after acquiring an additional 987 shares during the period. Finally, NewEdge Advisors LLC increased its position in Perrigo by 345.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock valued at $51,000 after acquiring an additional 1,109 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.
Perrigo Company Profile
Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.
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