Perrigo Company (NYSE:PRGO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, October 26th.
A number of other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy” rating in a report on Friday, October 20th. UBS AG reaffirmed a “buy” rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. assumed coverage on Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 target price on the stock. Deutsche Bank AG increased their target price on Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada restated a “sell” rating and set a $64.00 price target on shares of Perrigo in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Perrigo has a consensus rating of “Hold” and a consensus target price of $91.50.
Shares of Perrigo (NYSE:PRGO) traded down $0.29 during midday trading on Thursday, hitting $87.70. The stock had a trading volume of 1,406,400 shares, compared to its average volume of 1,519,982. Perrigo has a 12-month low of $63.68 and a 12-month high of $91.95. The stock has a market cap of $12,351.76, a P/E ratio of 17.90, a PEG ratio of 2.01 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.23.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. Perrigo’s revenue for the quarter was down 2.0% on a year-over-year basis. research analysts expect that Perrigo will post 4.9 earnings per share for the current fiscal year.
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In related news, EVP Thomas Farrington sold 865 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the sale, the executive vice president now owns 2,870 shares in the company, valued at $225,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon Kochan sold 1,500 shares of Perrigo stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $79.03, for a total transaction of $118,545.00. Following the transaction, the executive vice president now owns 10,349 shares in the company, valued at approximately $817,881.47. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock worth $581,320 in the last 90 days. 6.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Perrigo by 117.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after buying an additional 4,383,903 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Perrigo by 3,286.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,074,770 shares of the company’s stock valued at $90,979,000 after buying an additional 1,043,034 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Perrigo by 50.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock valued at $139,485,000 after buying an additional 623,370 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Perrigo during the 2nd quarter valued at $27,377,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Perrigo during the 2nd quarter valued at $24,950,000. Institutional investors and hedge funds own 83.12% 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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