Perrigo (PRGO) Given a $107.00 Price Target at Cantor Fitzgerald
A number of other brokerages have also issued reports on PRGO. Deutsche Bank upped their target price on Perrigo from $88.00 to $95.00 and gave the company a buy rating in a research report on Thursday, September 14th. Royal Bank Of Canada reaffirmed a sell rating and issued a $64.00 target price on shares of Perrigo in a research report on Wednesday, September 13th. Canaccord Genuity reaffirmed a buy rating and issued a $100.00 target price (up from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Wells Fargo & Company upped their target price on Perrigo to $90.00 and gave the company a market perform rating in a research report on Friday, November 10th. Finally, Jefferies Group reaffirmed a hold rating and issued a $81.00 target price on shares of Perrigo in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Perrigo currently has an average rating of Hold and a consensus price target of $92.07.
Shares of Perrigo (NYSE PRGO) traded down $0.70 on Monday, hitting $86.30. The company’s stock had a trading volume of 870,500 shares, compared to its average volume of 1,697,889. Perrigo has a one year low of $63.68 and a one year high of $91.73. The firm has a market cap of $12,150.00, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72.
Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.65 EPS. Perrigo’s quarterly revenue was down 2.0% on a year-over-year basis. analysts anticipate that Perrigo will post 4.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio is currently -6.99%.
In related news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the transaction, the executive vice president now directly owns 10,118 shares in the company, valued at approximately $905,459.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sharon Kochan sold 318 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the transaction, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,514 shares of company stock worth $400,009. Corporate insiders own 6.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of PRGO. Korea Investment CORP grew its stake in Perrigo by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia grew its stake in Perrigo by 13.8% during 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. Bessemer Group Inc. grew its stake in Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after buying an additional 2,040 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Perrigo during the 3rd quarter worth $217,000. Finally, Conning Inc. bought a new position in Perrigo during the 3rd quarter worth $219,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
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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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