Perrigo Company (PRGO) PT Set at $60.00 by Royal Bank Of Canada

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.

About Perrigo

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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