Perrigo Company (PRGO) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Perrigo Company (NYSE:PRGO) from a sell rating to a hold rating in a research note released on Saturday, September 16th.

Several other analysts also recently commented on PRGO. Goldman Sachs Group, Inc. (The) upgraded shares of Perrigo from a sell rating to a neutral rating and raised their target price for the stock from $66.00 to $79.00 in a report on Friday, August 11th. Jefferies Group LLC reiterated a hold rating and issued a $71.00 price objective (up from $69.00) on shares of Perrigo in a report on Friday, August 11th. Stifel Nicolaus reiterated a hold rating on shares of Perrigo in a report on Friday, August 11th. Royal Bank Of Canada lifted their price objective on shares of Perrigo from $60.00 to $64.00 and gave the company an underperform rating in a report on Friday, August 11th. Finally, Canaccord Genuity reiterated a buy rating and issued a $88.00 price objective (up from $80.00) on shares of Perrigo in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $89.36.

Shares of Perrigo (NYSE PRGO) traded down 0.13% on Friday, reaching $84.93. 653,667 shares of the company’s stock were exchanged. Perrigo has a 1-year low of $63.68 and a 1-year high of $99.14. The company’s market capitalization is $12.11 billion. The stock’s 50-day moving average price is $78.26 and its 200-day moving average price is $73.38.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. Analysts anticipate that Perrigo will post $4.58 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.75%. The ex-dividend date was Wednesday, August 23rd. Perrigo’s payout ratio is -3.51%.

In other news, EVP Sharon Kochan sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $79.03, for a total transaction of $118,545.00. Following the sale, the executive vice president now directly owns 10,349 shares in the company, valued at $817,881.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the sale, the executive vice president now owns 2,724 shares in the company, valued at $209,475.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,894 shares of company stock valued at $581,320. Insiders own 6.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Korea Investment CORP boosted its holdings in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after acquiring an additional 781 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after acquiring an additional 176 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after acquiring an additional 240 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after acquiring an additional 855 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after acquiring an additional 2,040 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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