SunTrust Banks Equities Analysts Reduce Earnings Estimates for Perrigo Company PLC (NYSE:PRGO)

Perrigo Company PLC (NYSE:PRGO) – SunTrust Banks lowered their Q4 2019 earnings estimates for Perrigo in a note issued to investors on Thursday, November 7th. SunTrust Banks analyst G. Gilbert now forecasts that the company will earn $1.01 per share for the quarter, down from their prior estimate of $1.06. SunTrust Banks currently has a “Hold” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for Perrigo’s FY2023 earnings at $4.37 EPS.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.11. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a net margin of 1.87% and a return on equity of 9.57%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share.

PRGO has been the topic of a number of other reports. TheStreet upgraded shares of Perrigo from a “d+” rating to a “c-” rating in a report on Friday, September 27th. Wells Fargo & Co upped their price target on shares of Perrigo from $45.00 to $52.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. ValuEngine upgraded shares of Perrigo from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Argus upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Friday, October 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.71.

NYSE PRGO opened at $49.10 on Monday. The company’s 50-day moving average price is $53.59 and its 200-day moving average price is $50.00. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock has a market cap of $7.37 billion, a PE ratio of 10.79, a PEG ratio of 5.50 and a beta of 1.46. Perrigo has a 12 month low of $36.28 and a 12 month high of $66.15.

A number of large investors have recently added to or reduced their stakes in PRGO. Amundi Pioneer Asset Management Inc. lifted its stake in Perrigo by 26.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 130,128 shares of the company’s stock worth $6,267,000 after acquiring an additional 27,379 shares during the period. Moon Capital Management LLC lifted its stake in Perrigo by 67.3% in the second quarter. Moon Capital Management LLC now owns 43,909 shares of the company’s stock worth $2,091,000 after acquiring an additional 17,660 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Perrigo by 18.1% in the second quarter. Xact Kapitalforvaltning AB now owns 26,707 shares of the company’s stock worth $1,272,000 after acquiring an additional 4,092 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its stake in Perrigo by 2.6% in the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,214,899 shares of the company’s stock worth $105,473,000 after acquiring an additional 56,700 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Perrigo by 17.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 44,022 shares of the company’s stock worth $2,096,000 after acquiring an additional 6,678 shares during the period. 87.89% of the stock is owned by institutional investors.

In related news, CFO Ronald Winowiecki sold 826 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $48.03, for a total value of $39,672.78. Following the completion of the sale, the chief financial officer now directly owns 6,952 shares of the company’s stock, valued at $333,904.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, November 27th. Perrigo’s dividend payout ratio (DPR) is presently 18.46%.

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. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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