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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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