Perrigo Company (NYSE:PRGO) Rating Lowered to Sell at BidaskClub

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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