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Leerink Swann Weighs in on Perrigo Company PLC's Q3 2018 Earnings10-2-2018 Perrigo Company PLC (NYSE:PRGO) – Stock analysts at Leerink Swann lowered their Q3 2018 earnings estimates for Perrigo in a research report issued on Monday, October 1st. Leerink Swann analyst A. Fadia now forecasts that the company will post earnings of $1.05 per share for the quarter, down from their prior forecast of $1.09. Leerink Swann also issued estimates for Perrigo’s FY2019 earnings at $5.10 EPS, FY2020 earnings at $5.24 EPS, FY2021 earnings at $5.53 EPS and FY2022 earnings at $5.84 EPS. Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 9th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. Perrigo’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the business posted $1.22 earnings per share. A number of other analysts also recently commented on the company. ValuEngine downgraded Perrigo from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Wells Fargo & Co decreased their price target on Perrigo from $84.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, August 21st. Goldman Sachs Group downgraded Perrigo from a “neutral” rating to a “sell” rating and decreased their price target for the company from $78.00 to $74.00 in a research report on Thursday, July 12th. JPMorgan Chase & Co. reduced their price objective on Perrigo from $83.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Finally, Barclays lowered Perrigo from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective for the company. in a report on Wednesday, June 6th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $88.69. Shares of PRGO opened at $71.04 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.23. The company has a market cap of $9.69 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. Perrigo has a 12 month low of $67.53 and a 12 month high of $95.93. Several institutional investors have recently bought and sold shares of PRGO. FMR LLC boosted its holdings in shares of Perrigo by 1,200.9% in the second quarter. FMR LLC now owns 5,170,125 shares of the company’s stock worth $376,954,000 after acquiring an additional 4,772,696 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Perrigo by 772.9% in the second quarter. Renaissance Technologies LLC now owns 697,508 shares of the company’s stock worth $50,855,000 after acquiring an additional 617,600 shares during the period. Starboard Value LP boosted its holdings in shares of Perrigo by 4.1% in the second quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock worth $732,120,000 after acquiring an additional 400,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Perrigo by 156.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 574,392 shares of the company’s stock worth $41,879,000 after acquiring an additional 350,539 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Perrigo by 13.8% in the second quarter. Victory Capital Management Inc. now owns 2,801,721 shares of the company’s stock worth $204,274,000 after acquiring an additional 340,779 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors. In other news, EVP Svend Andersen acquired 7,200 shares of Perrigo stock in a transaction on Tuesday, August 14th. The stock was acquired at an average cost of $69.43 per share, with a total value of $499,896.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is currently owned by corporate insiders. The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Friday, August 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, August 30th. Perrigo’s dividend payout ratio (DPR) is 15.42%. 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 worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments. Featured Article: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps
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