Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Thursday, February 15th, RTT News reports. Investors of record on Friday, March 2nd will be paid a dividend of 0.19 per share on Tuesday, March 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Perrigo’s previous quarterly dividend of $0.16.
Perrigo has increased its dividend by an average of 15.1% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Perrigo has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 12.0%.
Perrigo (PRGO) opened at $87.07 on Friday. The firm has a market cap of $12,267.22, a PE ratio of 17.78, a P/E/G ratio of 1.86 and a beta of 0.76. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $95.93. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54.
Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a research report on Friday, January 12th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price target on shares of Perrigo in a research report on Wednesday, January 17th. Berenberg Bank started coverage on shares of Perrigo in a research report on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective on the stock. Leerink Swann started coverage on shares of Perrigo in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Co upped their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $93.47.
In related news, EVP John Wesolowski purchased 700 shares of Perrigo stock in a transaction dated Thursday, December 14th. The stock was purchased at an average cost of $85.80 per share, for a total transaction of $60,060.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the transaction, the vice president now owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,838 shares of company stock valued at $336,784. 6.90% of the stock is owned by corporate insiders.
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Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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