Perrigo (NYSE:PRGO) received a $107.00 price target from equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 17.48% from the stock’s previous close.
PRGO has been the topic of a number of other research reports. Barclays boosted their price objective on shares of Perrigo to $93.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. Royal Bank of Canada restated a “sell” rating and issued a $64.00 price objective on shares of Perrigo in a research report on Wednesday, September 13th. Leerink Swann started coverage on shares of Perrigo in a research report on Tuesday. They set a “market perform” rating and a $90.00 price target on the stock. Canaccord Genuity set a $100.00 price target on shares of Perrigo and gave the company a “buy” rating in a research report on Tuesday, December 26th. Finally, Deutsche Bank boosted their price target on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.00.
Perrigo (NYSE:PRGO) traded up $1.64 during midday trading on Friday, hitting $91.08. 1,597,900 shares of the stock were exchanged, compared to its average volume of 1,088,033. Perrigo has a 52 week low of $63.68 and a 52 week high of $92.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The company has a market cap of $12,596.79, a P/E ratio of -9.94, a P/E/G ratio of 1.73 and a beta of 0.70.
Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. sell-side analysts predict that Perrigo will post 4.88 earnings per share for the current fiscal year.
In related news, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the sale, the vice president now owns 19,565 shares in the company, valued at approximately $1,731,893.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $83.09, for a total transaction of $37,390.50. The disclosure for this sale can be found here. Insiders have sold 4,051 shares of company stock valued at $355,370 over the last ninety days. 6.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia grew its position in shares of Perrigo by 13.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Perrigo during the 3rd quarter valued at approximately $217,000. Conning Inc. acquired a new stake in Perrigo during the 3rd quarter valued at approximately $219,000. BlueCrest Capital Management Ltd acquired a new stake in Perrigo during the 2nd quarter valued at approximately $221,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Perrigo during the 3rd quarter valued at approximately $222,000. 83.29% of the stock is currently owned by institutional investors and hedge funds.
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Perrigo Company Profile
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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