Perrigo Company PLC (NYSE:PRGO) – SVB Leerink lowered their Q3 2020 earnings per share (EPS) estimates for Perrigo in a research report issued on Thursday, September 17th. SVB Leerink analyst A. Fadia now expects that the company will post earnings per share of $0.76 for the quarter, down from their prior forecast of $0.85. SVB Leerink currently has a “Outperform” rating and a $63.00 target price on the stock. SVB Leerink also issued estimates for Perrigo’s Q4 2020 earnings at $1.02 EPS, FY2020 earnings at $3.95 EPS and FY2023 earnings at $4.48 EPS.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.16. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a net margin of 4.73% and a return on equity of 10.05%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS.
Shares of NYSE:PRGO opened at $45.92 on Monday. The firm has a 50 day simple moving average of $51.42 and a 200-day simple moving average of $52.11. Perrigo has a twelve month low of $40.01 and a twelve month high of $63.86. The company has a market capitalization of $6.27 billion, a PE ratio of 26.39 and a beta of 1.16. The company has a current ratio of 2.05, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were paid a $0.225 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.90 annualized dividend and a yield of 1.96%. Perrigo’s dividend payout ratio is currently 22.33%.
In other news, EVP Svend Andersen acquired 2,828 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $53.01 per share, with a total value of $149,912.28. Following the purchase, the executive vice president now owns 8,202 shares of the company’s stock, valued at approximately $434,788.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake in shares of Perrigo by 3.0% during the 2nd quarter. CIBC Asset Management Inc now owns 6,581 shares of the company’s stock worth $364,000 after purchasing an additional 194 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Perrigo by 0.8% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 25,303 shares of the company’s stock worth $1,217,000 after purchasing an additional 210 shares during the period. Stifel Financial Corp grew its stake in shares of Perrigo by 1.9% during the 2nd quarter. Stifel Financial Corp now owns 13,172 shares of the company’s stock worth $728,000 after purchasing an additional 249 shares during the period. Aviva PLC grew its stake in shares of Perrigo by 0.6% during the 1st quarter. Aviva PLC now owns 44,360 shares of the company’s stock worth $2,133,000 after purchasing an additional 279 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Perrigo by 115.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 596 shares of the company’s stock worth $29,000 after purchasing an additional 320 shares during the period. 83.52% of the stock is currently owned by institutional investors and hedge funds.
Perrigo Company Profile
Perrigo Co Plc engages in providing over-the-counter (OTC) self-care and wellness solutions. Its solutions enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The firm operates through three segments: Consumer Self-Care Americas, Consumer Self-Care International, and Prescription Pharmaceuticals.
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