UBS AG reiterated their buy rating on shares of Perrigo Company (NYSE:PRGO) in a research note released on Thursday, 99wallstreet.com reports. They currently have a $98.00 price objective on the stock, up from their previous price objective of $84.00.

Several other research firms also recently commented on PRGO. Oppenheimer Holdings, Inc. assumed coverage on Perrigo in a report on Monday, October 2nd. They issued a buy rating and a $88.00 price objective for the company. BidaskClub upgraded Perrigo from a sell rating to a hold rating in a report on Saturday, September 16th. Deutsche Bank AG lifted their price objective on Perrigo from $88.00 to $95.00 and gave the stock a buy rating in a report on Thursday, September 14th. Royal Bank Of Canada reiterated a sell rating and issued a $64.00 price objective on shares of Perrigo in a report on Wednesday, September 13th. Finally, Canaccord Genuity reiterated a buy rating and issued a $100.00 price objective (up from $88.00) on shares of Perrigo in a report on Wednesday, September 13th. One equities 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’s stock. The company presently has an average rating of Hold and a consensus target price of $88.50.

Perrigo (NYSE PRGO) opened at 86.82 on Thursday. The firm’s 50-day moving average is $82.88 and its 200-day moving average is $74.75. The stock’s market capitalization is $12.38 billion. Perrigo has a 12-month low of $63.68 and a 12-month high of $94.95.

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

ILLEGAL ACTIVITY WARNING: This piece of content was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/09/perrigos-prgo-buy-rating-reaffirmed-at-ubs-ag.html.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors 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 presently -3.51%.

In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, the executive vice president now owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of Perrigo stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the sale, the executive vice president now directly owns 10,231 shares in the company, valued at approximately $832,394.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,894 shares of company stock worth $581,320. 6.90% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. 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 worth $101,000 after acquiring an additional 781 shares during the last quarter. Commonwealth Bank of Australia increased its stake in Perrigo by 13.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares during the last quarter. Johnson Financial Group Inc. increased its stake in Perrigo by 15.6% in the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after acquiring an additional 240 shares during the last quarter. Global X Management Co. LLC increased its stake in Perrigo by 56.4% in the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after acquiring an additional 855 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Perrigo by 1,046.2% in the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after acquiring an additional 2,040 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

About Perrigo

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.