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Perrigo Company Public Limited Company Message Board

  • investora2z investora2z Oct 17, 2013 8:23 AM Flag

    SA article

    Perrigo has done well over the long term, though the last one year has been relatively less robust. It is still up by 10% over 52 weeks, and is hovering around its 52 week high. A recent SA article had mentioned that consistent insider selling over the last few months and the relatively high valuations could be reasons for being negative on the stock. The author had pointed out that there have been no insider purchases since a long time and the price to sales is relatively high. However, considering the low level of insider ownership in the company, and the volume of the insider sales, this alone cannot be a reason for being negative about the stock. The selling could be due to various other factors, and cannot necessarily be linked to possible negative expectations in the minds of the management. Selling is not always indicative of poor outlook, though insider buying is usually associated with positive expectations. Recently OPKO Health (OPK) and Biozone Pharmaceuticals (BZNE) have seen positive momentum based on purchases / support by insiders. Regarding the valuations, Perrigo management expects 13-18% growth in EPS in fiscal 2014. The management expects standalone fiscal 2014 adjusted EPS of $6.35 to $6.60 compared to $5.61 for 2013. The acquisition of Elan is also expected to be increasingly accretive for EPS. It is expected to add 10 cents per share in fiscal 2014 and 70 to 80 cents per share in fiscal 2015. The forward P/E is 16, which is not bad for a company which has delivered consistent growth in top and bottom-line over the past few years. The revenues have grown from $2.26 billion in fiscal 2010 to $3.53 billion in fiscal 2013. The net profit has nearly doubled from $224 million to $442 million during the same period.

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