Perrigo Company PLC (NYSE:PRGO) – Research analysts at SVB Leerink raised their FY2020 EPS estimates for Perrigo in a research note issued on Monday, July 20th. SVB Leerink analyst A. Fadia now anticipates that the company will post earnings per share of $4.05 for the year, up from their previous estimate of $3.95. SVB Leerink currently has a “Outperform” rating and a $63.00 price objective on the stock. SVB Leerink also issued estimates for Perrigo’s FY2021 earnings at $4.23 EPS, FY2022 earnings at $4.29 EPS and FY2023 earnings at $4.55 EPS.
Several other research analysts have also recently issued reports on PRGO. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Friday, April 17th. Morgan Stanley dropped their target price on Perrigo from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Perrigo in a research report on Sunday, June 7th. Finally, ValuEngine cut Perrigo from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $58.43.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.09 by $0.05. Perrigo had a return on equity of 9.72% and a net margin of 3.77%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $1.07 earnings per share. Perrigo’s revenue was up 14.2% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Perrigo by 11.9% during the 4th quarter. Franklin Resources Inc. now owns 6,108,363 shares of the company’s stock valued at $315,557,000 after purchasing an additional 650,241 shares during the period. London Co. of Virginia raised its stake in Perrigo by 80.5% during the 1st quarter. London Co. of Virginia now owns 2,272,051 shares of the company’s stock valued at $109,263,000 after purchasing an additional 1,013,568 shares during the period. Geode Capital Management LLC raised its stake in Perrigo by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 2,262,333 shares of the company’s stock valued at $108,601,000 after purchasing an additional 47,731 shares during the period. Camber Capital Management LP increased its stake in Perrigo by 17.6% in the 1st quarter. Camber Capital Management LP now owns 2,000,000 shares of the company’s stock worth $96,180,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Perrigo by 25.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,745,429 shares of the company’s stock worth $83,938,000 after acquiring an additional 359,257 shares during the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.
Perrigo Company Profile
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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