Perrigo Company (NYSE:PRGO) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday, September 9th.
Several other research firms have also commented on PRGO. Goldman Sachs Group, Inc. (The) raised shares of Perrigo from a “sell” rating to a “neutral” rating and increased their price target for the company from $66.00 to $79.00 in a research report on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating and set a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Royal Bank Of Canada reissued a “hold” rating and set a $66.00 price target on shares of Perrigo in a research report on Wednesday, May 24th. Canaccord Genuity set a $86.00 price target on shares of Perrigo and gave the company a “buy” rating in a research report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $89.36.
Perrigo (PRGO) traded down 2.22% during trading on Friday, hitting $86.90. The stock had a trading volume of 3,571,502 shares. The stock has a 50 day moving average price of $77.62 and a 200 day moving average price of $73.23. Perrigo has a 12-month low of $63.68 and a 12-month high of $99.14. The company’s market capitalization is $12.39 billion.
Perrigo (NYSE:PRGO) last released its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm earned $1.93 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that Perrigo will post $4.58 earnings per share for the current year.
In other news, EVP Thomas Farrington sold 865 shares of Perrigo stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the completion of the sale, the executive vice president now directly owns 2,870 shares in the company, valued at $225,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a transaction that occurred 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 sale, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Korea Investment CORP grew its stake in shares of Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after acquiring an additional 781 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares during the period. Johnson Financial Group Inc. grew its stake in shares of 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 acquiring an additional 240 shares during the period. Global X Management Co. LLC grew its position in Perrigo by 56.4% during the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after buying an additional 855 shares during the period. Finally, Bessemer Group Inc. grew its position in Perrigo by 1,046.2% during the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after buying an additional 2,040 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.
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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