Perrigo Company plc (NYSE: PRGO) stock fell -0.59% on Thursday to $33.63 against a previous-day closing price of $33.83. With 1.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.33 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $33.99 whereas the lowest price it dropped to was $33.36. The 52-week range on PRGO shows that it touched its highest point at $41.44 and its lowest point at $30.78 during that stretch. It currently has a 1-year price target of $49.00. With its current market cap of 4.53 billion, PRGO has annualized dividend of $1.09 while the current yield stands at 3.25%. Beta for the stock currently stands at 0.82.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRGO was down-trending over the past week, with a drop of -0.24%, but this was down by -13.50% over a month. Three-month performance dropped to -0.36% while six-month performance fell -5.51%. The stock lost -14.49% in the past year, while it has lost -1.35% so far this year. A look at the trailing 12-month EPS for PRGO yields -0.42 with Next year EPS estimates of 3.12. For the next quarter, that number is 0.61. This implies an EPS growth rate of 0.70% for this year and 18.20% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.80%.
Float and Shares Shorts:
At present, 135.30 million PRGO shares are outstanding with a float of 134.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.6 million, which was 3.39% higher than short shares on Jul 30, 2023. In addition to Mr. Eduardo Guarita Bezerra as the firm’s Exec. VP & CFO, Ms. Kyle L. Hanson serves as its Exec. VP, Gen. Counsel & Corp. Sec.
Through their ownership of 98.72% of PRGO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.34% of PRGO, in contrast to 46.24% held by mutual funds. Shares owned by individuals account for 12.62%. As the largest shareholder in PRGO with 10.85% of the stake, The Vanguard Group, Inc. holds 14,678,731 shares worth 14,678,731. A second-largest stockholder of PRGO, BlackRock Fund Advisors, holds 11,279,782 shares, controlling over 8.34% of the firm’s shares. Barrow, Hanley, Mewhinney & Strau is the third largest shareholder in PRGO, holding 7,698,520 shares or 5.69% stake. With a 3.21% stake in PRGO, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 4,346,542 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.10% of PRGO stock, is the second-largest Mutual Fund holder. It holds 4,192,940 shares valued at 153.63 million. Vanguard Small Cap Index Fund holds 2.59% of the stake in PRGO, owning 3,510,538 shares worth 128.63 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, PRGO reported revenue of $1.12B and operating income of $2.60M. The EBITDA in the recently reported quarter was $32.30M and diluted EPS was -$0.48.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRGO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRGO analysts setting a high price target of $49.00 and a low target of $48.00, the average target price over the next 12 months is $48.50. Based on these targets, PRGO could surge 45.7% to reach the target high and rise by 42.73% to reach the target low. Reaching the average price target will result in a growth of 44.22% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PRGO stock several times over the past three months with 3 Buys and 3 Sells. In these transactions, 13,329 shares were bought while 3,914 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 290,591 while 323,454 shares were sold.