Prestige Consumer Healthcare (NYSE:PBH) Price Target Lowered to $65.00 at Oppenheimer

Key Points

• Oppenheimer cut its price target on Prestige from $77 to $65 while maintaining an "outperform" rating, implying roughly a 19.9% upside from the current share price.
• Prestige slightly missed quarterly estimates with EPS of $1.14 vs. $1.16 and revenue of $283.4M vs. $286.9M (revenue down 2.4% YoY); the stock has a consensus rating of "Hold" and a consensus price target of $74.75.
• Institutional ownership is very high at 99.95%, with major funds like Goldman Sachs and Jane Street significantly increasing their positions in the most recent quarter.

Prestige Consumer Healthcare (NYSE:PBH - Get Free Report) had its target price decreased by investment analysts at Oppenheimer from $77.00 to $65.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 19.93% from the company's current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Prestige Consumer Healthcare in a report on Tuesday, April 21st. Jefferies Financial Group reduced their target price on Prestige Consumer Healthcare from $70.00 to $66.00 and set a "hold" rating on the stock in a report on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.75.

Prestige Consumer Healthcare Stock Performance

Shares of NYSE:PBH opened at $54.20 on Thursday. The firm's 50 day simple moving average is $60.52 and its 200 day simple moving average is $61.97. Prestige Consumer Healthcare has a fifty-two week low of $51.24 and a fifty-two week high of $89.37. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.67 and a beta of 0.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.11 and a quick ratio of 1.93.

Prestige Consumer Healthcare (NYSE:PBH - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The firm had revenue of $283.44 million for the quarter, compared to analyst estimates of $286.93 million. Prestige Consumer Healthcare had a net margin of 16.90% and a return on equity of 12.02%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. As a group, sell-side analysts forecast that Prestige Consumer Healthcare will post 4.54 earnings per share for the current year.

Insiders Place Their Bets

In other Prestige Consumer Healthcare news, VP Jeffrey Zerillo sold 1,000 shares of Prestige Consumer Healthcare stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $65.93, for a total value of $65,930.00. Following the transaction, the vice president owned 41,048 shares of the company's stock, valued at approximately $2,706,294.64. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Prestige Consumer Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in PBH. AQR Capital Management LLC increased its holdings in Prestige Consumer Healthcare by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 30,056 shares of the company's stock worth $2,558,000 after purchasing an additional 3,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Prestige Consumer Healthcare by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,490 shares of the company's stock valued at $2,535,000 after purchasing an additional 1,289 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Prestige Consumer Healthcare by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 546,672 shares of the company's stock worth $46,997,000 after buying an additional 120,965 shares during the period. Jane Street Group LLC boosted its position in shares of Prestige Consumer Healthcare by 204.0% during the first quarter. Jane Street Group LLC now owns 104,802 shares of the company's stock worth $9,010,000 after buying an additional 70,330 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Prestige Consumer Healthcare by 92.8% during the first quarter. Geneos Wealth Management Inc. now owns 559 shares of the company's stock worth $48,000 after buying an additional 269 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Prestige Consumer Healthcare Company Profile

Prestige Consumer Healthcare, Inc is a leading manufacturer and marketer of branded over-the-counter (OTC) healthcare products. The company focuses on developing, acquiring and commercializing a diverse portfolio of non-prescription remedies designed to address common consumer health needs, including pain relief, cold and cough, digestive health, eye care, skin care and women's health.

Key brands in Prestige's portfolio include Clear Eyes (eye health), Carmex (lip care), Chloraseptic (sore throat relief), Dramamine (motion sickness), Rolaids (antacid), Monistat (women's health), BC Powder (pain relief), Little Remedies (pediatric cold and gas relief) and TheraTears (dry eye therapy).

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