Perrigo (PRGO) Given a $107.00 Price Target by Cantor Fitzgerald Analysts

Cantor Fitzgerald set a $107.00 price target on Perrigo (NYSE:PRGO) in a research note published on Friday, January 5th. The brokerage currently has a buy rating on the stock.

PRGO has been the topic of a number of other reports. Barclays increased their target price on Perrigo to $93.00 and gave the stock an overweight rating in a report on Monday, December 4th. Royal Bank of Canada reiterated a sell rating and issued a $64.00 target price on shares of Perrigo in a report on Wednesday, September 13th. Leerink Swann assumed coverage on Perrigo in a report on Tuesday, January 2nd. They issued a market perform rating and a $90.00 target price on the stock. Canaccord Genuity set a $100.00 target price on Perrigo and gave the stock a buy rating in a report on Tuesday, December 26th. Finally, Deutsche Bank raised their price objective on Perrigo from $88.00 to $95.00 and gave the company a buy rating in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Perrigo presently has an average rating of Hold and an average target price of $92.00.

Shares of Perrigo (NYSE PRGO) traded down $0.19 during mid-day trading on Friday, hitting $91.80. 559,679 shares of the stock traded hands, compared to its average volume of 872,168. Perrigo has a one year low of $63.68 and a one year high of $92.75. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. The firm has a market cap of $12,955.94, a P/E ratio of -10.02, a price-to-earnings-growth ratio of 1.94 and a beta of 0.70.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $1.65 EPS. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. equities analysts expect that Perrigo will post 4.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, November 30th. Perrigo’s dividend payout ratio is presently -6.99%.

In other news, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the sale, the vice president now directly owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Wesolowski sold 388 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total value of $33,833.60. Following the sale, the executive vice president now directly owns 248 shares of the company’s stock, valued at $21,625.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,051 shares of company stock valued at $355,370. Insiders own 6.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PRGO. Russell Investments Group Ltd. increased its holdings in Perrigo by 5.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,686 shares of the company’s stock worth $1,034,000 after acquiring an additional 736 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Perrigo by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 429,676 shares of the company’s stock worth $32,450,000 after acquiring an additional 18,095 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Perrigo by 37.5% in the 2nd quarter. Victory Capital Management Inc. now owns 31,736 shares of the company’s stock worth $2,397,000 after acquiring an additional 8,652 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Perrigo by 9.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 19,982 shares of the company’s stock worth $1,509,000 after acquiring an additional 1,733 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in Perrigo by 0.3% in the 2nd quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock worth $2,961,000 after acquiring an additional 103 shares during the last quarter. 83.29% of the stock is owned by institutional investors.

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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)

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