Traders sold shares of Perrigo Company PLC (NYSE:PRGO) on strength during trading hours on Thursday. $64.15 million flowed into the stock on the tick-up and $90.68 million flowed out of the stock on the tick-down, for a money net flow of $26.53 million out of the stock. Of all stocks tracked, Perrigo had the 10th highest net out-flow for the day. Perrigo traded up $1.20 for the day and closed at $75.97
Several brokerages have commented on PRGO. Wells Fargo & Co lowered their price target on Perrigo from $84.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, August 21st. ValuEngine upgraded Perrigo from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. Canaccord Genuity set a $90.00 price target on Perrigo and gave the company a “buy” rating in a report on Friday, August 17th. Jefferies Financial Group reiterated a “hold” rating and set a $73.00 price target on shares of Perrigo in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. lowered their price target on Perrigo from $83.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.65.
The company has a market capitalization of $10.21 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The company has a current ratio of 1.81, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, August 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. Perrigo’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. equities research analysts forecast that Perrigo Company PLC will post 4.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, August 31st will be paid a $0.19 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. Perrigo’s payout ratio is 15.42%.
In other news, EVP Svend Andersen bought 7,200 shares of Perrigo stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $69.43 per share, with a total value of $499,896.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Perrigo by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 1,064,952 shares of the company’s stock worth $77,644,000 after purchasing an additional 31,582 shares during the period. Andra AP fonden lifted its position in Perrigo by 1.4% in the second quarter. Andra AP fonden now owns 91,400 shares of the company’s stock worth $6,664,000 after purchasing an additional 1,300 shares during the period. Global X Management Co LLC lifted its position in Perrigo by 41.4% in the second quarter. Global X Management Co LLC now owns 15,580 shares of the company’s stock worth $1,136,000 after purchasing an additional 4,560 shares during the period. California Public Employees Retirement System lifted its position in Perrigo by 6.4% in the second quarter. California Public Employees Retirement System now owns 412,716 shares of the company’s stock worth $30,091,000 after purchasing an additional 24,810 shares during the period. Finally, Putnam Investments LLC lifted its position in Perrigo by 8.6% in the second quarter. Putnam Investments LLC now owns 41,012 shares of the company’s stock worth $2,990,000 after purchasing an additional 3,261 shares during the period. 81.94% of the stock is owned by hedge funds and other institutional investors.
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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