Perrigo Co. (PRGO) Given a $95.00 Price Target by JPMorgan Chase & Co. Analysts
Perrigo Co. (NYSE:PRGO) has been given a $95.00 target price by analysts at JPMorgan Chase & Co. in a research note issued on Thursday. The brokerage presently has a a “hold” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 6.42% from the stock’s previous close.
A number of other equities research analysts have also recently commented on PRGO. Zacks Investment Research cut shares of Perrigo from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Deutsche Bank AG raised shares of Perrigo from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 22nd. Vetr cut shares of Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price target on the stock. in a research note on Monday, July 25th. Northland Securities cut shares of Perrigo from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $123.00 to $94.00 in a research note on Thursday, August 11th. Finally, Barclays PLC dropped their price target on shares of Perrigo from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $109.45.
Shares of Perrigo (NYSE:PRGO) opened at 89.27 on Thursday. Perrigo has a 52 week low of $79.72 and a 52 week high of $156.03. The stock has a 50 day moving average of $89.39 and a 200 day moving average of $92.36. The stock’s market cap is $12.79 billion.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 10th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.07. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Perrigo had a negative net margin of 26.62% and a positive return on equity of 10.78%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. On average, analysts expect that Perrigo will post $7.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, November 25th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, November 22nd. Perrigo’s dividend payout ratio is currently -5.53%.
In other Perrigo news, CFO Judy L. Brown sold 2,096 shares of Perrigo stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $96.76, for a total value of $202,808.96. Following the completion of the transaction, the chief financial officer now directly owns 14,196 shares of the company’s stock, valued at approximately $1,373,604.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Herman Morris, Jr. sold 1,073 shares of Perrigo stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $90.96, for a total value of $97,600.08. Following the completion of the transaction, the director now directly owns 10,425 shares of the company’s stock, valued at $948,258. The disclosure for this sale can be found here. 4.47% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PRGO. Amica Retiree Medical Trust bought a new position in shares of Perrigo during the second quarter worth approximately $105,000. Spirit of America Management Corp NY bought a new position in shares of Perrigo during the third quarter worth approximately $120,000. Peddock Capital Advisors LLC bought a new position in shares of Perrigo during the third quarter worth approximately $138,000. Advisor Group Inc. bought a new position in shares of Perrigo during the second quarter worth approximately $139,000. Finally, Johnson Financial Group Inc. increased its position in shares of Perrigo by 858.5% in the second quarter. Johnson Financial Group Inc. now owns 1,524 shares of the company’s stock worth $139,000 after buying an additional 1,365 shares in the last quarter. 70.80% of the stock is owned by institutional investors.
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