Stock analysts at Oppenheimer Holdings, Inc. initiated coverage on shares of Perrigo Company (NYSE:PRGO) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $88.00 price target on the stock. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 3.96% from the company’s previous close.

PRGO has been the topic of a number of other research reports. Cantor Fitzgerald set a $93.00 target price on shares of Perrigo and gave the stock a “buy” rating in a research note on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $88.00 price objective (up previously from $80.00) on shares of Perrigo in a report on Thursday, August 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $88.00 target price (up previously from $86.00) on shares of Perrigo in a report on Monday, July 17th. BidaskClub upgraded Perrigo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $71.00 price target (up from $69.00) on shares of Perrigo in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.36.

Shares of Perrigo (PRGO) traded up 1.33% during trading on Monday, hitting $85.78. 582,084 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $78.26 and its 200-day moving average price is $73.38. Perrigo has a 1-year low of $63.68 and a 1-year high of $97.17. The stock’s market cap is $12.23 billion.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. On average, equities analysts expect that Perrigo will post $4.58 earnings per share for the current fiscal year.

WARNING: This piece of content was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/02/perrigo-company-prgo-receives-new-coverage-from-analysts-at-oppenheimer-holdings-inc.html.

In related news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction 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 in the company, valued at $905,459.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon Kochan sold 1,500 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $79.03, for a total value of $118,545.00. Following the completion of the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at $817,881.47. The disclosure for this sale can be found here. Insiders sold a total of 6,894 shares of company stock worth $581,320 in the last 90 days. 6.90% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Korea Investment CORP increased its stake 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 buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Perrigo by 13.8% during 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. increased its position in shares of Perrigo by 15.6% during 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 increased its position in shares of 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 acquiring an additional 855 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of 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 acquiring an additional 2,040 shares during the last quarter. Institutional investors own 82.44% 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)

Receive News & Stock Ratings for Perrigo Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo Company and related stocks with our FREE daily email newsletter.