Barclays Raises Perrigo (PRGO) Price Target to $93.00
Perrigo (NYSE:PRGO) had its price target upped by Barclays to $93.00 in a research note issued to investors on Monday. The firm presently has an “overweight” rating on the stock. Barclays’ price target points to a potential upside of 6.90% from the company’s current price.
Several other analysts have also recently weighed in on PRGO. BidaskClub cut Perrigo from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Canaccord Genuity reissued a “buy” rating and set a $88.00 price objective (up from $80.00) on shares of Perrigo in a report on Thursday, August 10th. Cantor Fitzgerald set a $93.00 price objective on Perrigo and gave the stock a “buy” rating in a report on Thursday, August 10th. Goldman Sachs Group raised Perrigo from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $79.00 in a report on Friday, August 11th. Finally, Royal Bank Of Canada boosted their target price on Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $92.07.
Perrigo (NYSE PRGO) traded down $0.21 during trading on Monday, hitting $87.00. The company had a trading volume of 834,500 shares, compared to its average volume of 1,701,456. The company has a market capitalization of $12,253.14, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $91.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.
In related news, EVP John Wesolowski sold 388 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total value of $33,833.60. Following the completion of the transaction, the executive vice president now directly owns 248 shares in the company, valued at approximately $21,625.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The disclosure for this sale can be found here. Insiders have sold a total of 4,514 shares of company stock valued at $400,009 over the last 90 days. Corporate insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PRGO. Allen Investment Management LLC boosted its position in Perrigo by 7.1% during the 2nd quarter. Allen Investment Management LLC now owns 7,143 shares of the company’s stock worth $539,000 after acquiring an additional 473 shares during the last quarter. State Street Corp boosted its position in Perrigo by 1.7% during the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after acquiring an additional 112,287 shares during the last quarter. Sei Investments Co. boosted its position in Perrigo by 7.5% during the 3rd quarter. Sei Investments Co. now owns 131,284 shares of the company’s stock worth $11,114,000 after acquiring an additional 9,192 shares during the last quarter. Andra AP fonden boosted its position in Perrigo by 9.9% during the 3rd quarter. Andra AP fonden now owns 16,700 shares of the company’s stock worth $1,414,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Monetta Financial Services Inc. acquired a new position in Perrigo during the 2nd quarter worth approximately $755,000. Institutional investors and hedge funds own 85.53% 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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