Perrigo Company (PRGO) Upgraded at BidaskClub
BidaskClub upgraded shares of Perrigo Company (NYSE:PRGO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
Several other brokerages have also recently weighed in on PRGO. Goldman Sachs Group, Inc. (The) upgraded shares of Perrigo from a sell rating to a neutral rating and lifted their price target for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Deutsche Bank AG reiterated a buy rating and set a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Royal Bank Of Canada reiterated a hold rating and set a $66.00 price target on shares of Perrigo in a research note on Wednesday, May 24th. Canaccord Genuity set a $86.00 price target on shares of Perrigo and gave the stock a buy rating in a research note on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. started coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an outperform rating and a $88.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $89.36.
Shares of Perrigo (NYSE PRGO) opened at 86.62 on Friday. Perrigo has a one year low of $63.68 and a one year high of $99.14. The firm’s 50-day moving average is $77.96 and its 200-day moving average is $73.29. The company’s market cap is $12.35 billion.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. On average, equities analysts anticipate that Perrigo will post $4.58 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. Perrigo’s dividend payout ratio is currently -3.51%.
In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of Perrigo stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares in the company, valued at $832,394.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,894 shares of company stock worth $581,320. 6.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PRGO. Korea Investment CORP increased its holdings in Perrigo by 142.0% in the 2nd 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 increased its holdings in Perrigo by 13.8% in the 2nd 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. increased its holdings in Perrigo by 15.6% in the 1st 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 increased its holdings in Perrigo by 56.4% in the 1st 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. increased its holdings in Perrigo by 1,046.2% in the 2nd 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 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.
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