Perrigo Company (NYSE:PRGO) received a $60.00 price target from stock analysts at Royal Bank Of Canada in a report released on Sunday. The brokerage presently has a “sell” rating on the stock. Royal Bank Of Canada’s price objective points to a potential downside of 18.78% from the stock’s current price.
PRGO has been the topic of several other research reports. Wells Fargo & Company reiterated a “market perform” rating and issued a $67.00 target price on shares of Perrigo in a research report on Friday, April 14th. Deutsche Bank AG dropped their target price on shares of Perrigo from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. B. Riley reiterated a “neutral” rating and issued a $67.00 target price on shares of Perrigo in a research report on Saturday, April 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 target price on shares of Perrigo in a research report on Wednesday, May 24th. Finally, Canaccord Genuity set a $86.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.16.
Shares of Perrigo (PRGO) traded down 1.68% on Friday, reaching $72.63. 438,081 shares of the company traded hands. The stock’s market capitalization is $10.41 billion. Perrigo has a 1-year low of $65.47 and a 1-year high of $99.14. The company has a 50-day moving average of $72.86 and a 200-day moving average of $74.84.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Tuesday, May 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Perrigo had a negative net margin of 43.81% and a positive return on equity of 11.79%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts anticipate that Perrigo will post $4.28 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. increased its stake in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after buying an additional 240 shares during the period. Global X Management Co. LLC increased its stake in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the period. Teza Capital Management LLC bought a new stake in Perrigo during the first quarter worth about $205,000. Bank of Nova Scotia increased its stake in Perrigo by 2.5% in the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock worth $214,000 after buying an additional 80 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in Perrigo during the first quarter worth about $214,000. 76.50% of the stock is currently owned by institutional investors.
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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