Perrigo Co PLC (PRGO)

PRGO (NYSE:Drugs) EQUITY
$76.50
pos +1.80
+2.41%
Today's Range: 75.70 - 77.09 | PRGO Avg Daily Volume: 1,879,900
Last Update: 06/28/17 - 4:00 PM EDT
Volume: 1,522,320
YTD Performance: -10.25%
Open: $75.80
Previous Close: $74.70
52 Week Range: $65.47 - $99.14
Oustanding Shares: 143,397,295
Market Cap: 10,878,118,799
6-Month Chart
TheStreet Ratings Grade for PRGO
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 5 4 4 4
Moderate Buy 0 0 0 0
Hold 7 8 10 10
Moderate Sell 0 0 0 0
Strong Sell 1 0 0 0
Mean Rec. 2.38 2.33 2.43 2.43
Latest Dividend: 0.16
Latest Dividend Yield: 0.84%
Dividend Ex-Date: 05/24/17
Price Earnings Ratio: -3.19
Price Earnings Comparisons:
PRGO Sector Avg. S&P 500
-3.19 0.00 30.70
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
7.98% -14.87% -48.83%
GROWTH 12 Mo 3 Yr CAGR
Revenue -39.80 -1.00 0.00
Net Income -95.60 -1.00 0.00
EPS -95.70 -1.00 0.00
Earnings for PRGO:
EBITDA 0.00B
Revenue 2.77B
Average Earnings Estimates
Qtr (06/17) Qtr (09/17) FY (12/17) FY (12/18)
Average Estimate $0.94 $1.11 $4.28 $5.05
Number of Analysts 13 13 12 13
High Estimate $1.05 $1.18 $4.35 $5.50
Low Estimate $0.80 $0.98 $4.16 $4.75
Prior Year $1.93 $1.65 $5.07 $4.28
Growth Rate (Year over Year) -51.45% -32.82% -15.50% 17.89%
Chart Benchmark
Average Frequency Timeframe
Indicator Chart Scale  
Symbol Comparison Bollinger Bands
Having questioned the sanity of selling naked puts on individual securities in the previous post, here is an example of a strategy that a he…
My experience is that most investors (amateur and pros) size a short put position improperly and tend to short more puts than share equivalents they normally would buy, in order to take in "free money.'"  --Kass Diary, "
"It's not a joke, it's a rope, Tuco. Now I want you to get up there and put your head in that noose." -- Blondie, " The Good, the Bad and the Ugly"

Perrigo's Problems Continue Real Money Pro($)

Perrigo (PRGO) continues to encounter more problems. 
The Good * Gold continues its rally (+$3). * Big Pharma better -- especially of a Johnson & Johnson (JNJ) kind. * Speculative biotech improving - especially of a Sage Therapeutics (SAGE) kind (a Bobby Lang pick!). ZIOPHARM Oncology (ZIOP) +10%. *Chipotle Mexican Grill (CMG) continues its impressive advance. * Incyte (INCY) +! * Campbell Soup (CPB) in face of a strong consumer staples look. The Bad  
While the options market for FAST is nominally deep -- that is, plenty of options bid and offered -- the spread is ridiculously large between the bid and the ask prices. In the case of January 2019 $42 puts, the bid is $3.50 and the offering is at $4.70; that's big enough to run a truck through! Moreover, if you decide to change course -- even without any price change in Fastenal's shares -- you are paying a hefty price, buying at close to $4.70 and selling at close to $3.50. In the case of the January 2019 $45 puts, the spread is $4.90 bid and $6.00 offered. I don't like these odds. Generally, I don't favor selling naked puts; it's a potentially dangerous strategy that limits your upside against a possible large downside . I have seen too many floor traders going broke with the strategy of selling options naked. As an example, I was critical (but respectful) when Paul sold naked puts in Perrigo (PRGO) last year when the shares were trading at $110 to $120. The shares are at $67 this morning. This is the sort of trade that can put professionals and novices out of business. Given that only 31 of the $42 puts and 14 of the $45 puts traded today, that is not a clear indication of conviction. My guess is that most of the trading in these options, as mentioned in a previous bullet point, will result in buys near the offering price and sales near the bid price. I also am of the view that the outlook for Fastenal is for a secular decline in the least squared profit growth relative to consensus expectations, chiefly reflecting a changing competitive business landscape. That is why I am short and why the shares remain on my Best Ideas List. Fastenal at this writing is trading down $3.75 to $46.60 -- its low of the day.
Stocks continue their drive higher. Rs (Russell) over Ss (S&P) and Qs (Nasdaq). I added to (SQQQ) and reestablished (SDS) today. Crude oil rose by +$0.90 to $50.39. Financials ((GS) , (JPM) , (AXP) ) continue as the "world's fair." (Wouldn't be surprised if there was some painting the tape ahead of tomorrow's quarter close.) Energy stocks, especially of a (COP) -kind (+$3.70). The Russell Index. Lumber +$6.50. (CMG) on an analyst upgrade to comps. Techs -- (NVDA) , (WDC) and (STX) . Transports -- led by (UNP) . The U.S. dollar is strong (taking down some consumer durables). New high, "DuLovely" DuPont (DD) .  The Bad Fixed income weakens. At 2:30 p.m. ET, at day's low -- and right at Tuesday's low of the day. (I added to (TBT) ) Gold dipped by nearly nine beaners to $1245/oz. (GLD) -$0.80. Fertilizers ((CF) -kind). (Ag commodities were mixed, with little changes across the set). (PRGO) new low. Big Pharma, and segments of biotech. The Ugly (LULU) is PUPU. (AKAM) .
"Mistakes are always forgivable, if one has the courage to admit them."
As I have written consistently in my Diary, there is a reasonable chance that the Valeant (VRX) equity has little value.
Starboard Value recently disclosed a stake in the broadcaster, an investment suggesting a campaign pushing for stock buybacks, asset sales or an auction of the whole company could be next.

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