Brokerages Expect Perrigo Company (PRGO) Will Post Quarterly Sales of $1.17 Billion

Equities analysts expect Perrigo Company (NYSE:PRGO) to report $1.17 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have provided estimates for Perrigo’s earnings, with the highest sales estimate coming in at $1.21 billion and the lowest estimate coming in at $1.15 billion. Perrigo posted sales of $1.35 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 13.3%. The business is scheduled to report its next quarterly earnings results on Thursday, November 9th.

According to Zacks, analysts expect that Perrigo will report full-year sales of $1.17 billion for the current year, with estimates ranging from $4.74 billion to $4.85 billion. For the next year, analysts forecast that the business will post sales of $4.95 billion per share, with estimates ranging from $4.82 billion to $5.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Perrigo.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.93 EPS.

A number of equities research analysts recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and set a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a research note on Monday, October 2nd. They set a “buy” rating and a $88.00 price target on the stock. BidaskClub raised shares of Perrigo from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank AG upped their price target on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 price target on shares of Perrigo in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $88.50.

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Shares of Perrigo (PRGO) opened at 87.04 on Tuesday. The stock’s 50 day moving average is $84.49 and its 200 day moving average is $75.53. The stock’s market cap is $12.41 billion. Perrigo has a 52-week low of $63.68 and a 52-week high of $92.64.

In other news, EVP Thomas Farrington sold 865 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the sale, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sharon Kochan sold 318 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now directly owns 10,231 shares in the company, valued at approximately $832,394.16. The disclosure for this sale can be found here. In the last three months, insiders sold 6,894 shares of company stock worth $581,320. Insiders own 6.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PRGO. OppenheimerFunds Inc. increased its stake in Perrigo by 28.9% in the 1st quarter. OppenheimerFunds Inc. now owns 10,003 shares of the company’s stock worth $664,000 after buying an additional 2,244 shares during the period. Principal Financial Group Inc. increased its stake in Perrigo by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 218,579 shares of the company’s stock worth $14,512,000 after buying an additional 3,173 shares during the period. Teachers Advisors LLC increased its stake in Perrigo by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 184,705 shares of the company’s stock worth $12,263,000 after buying an additional 9,615 shares during the period. Global X Management Co. LLC increased its stake in Perrigo by 56.4% in the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Perrigo by 11.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock worth $20,736,000 after buying an additional 32,828 shares during the period. 82.44% of the stock is currently owned by institutional investors.

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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