Perrigo (PRGO) Given a $105.00 Price Target at Canaccord Genuity

Perrigo (NYSE:PRGO) has been given a $105.00 price objective by research analysts at Canaccord Genuity in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price target would suggest a potential upside of 40.11% from the company’s previous close.

PRGO has been the topic of several other reports. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Monday. Oppenheimer set a $98.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Friday. ValuEngine downgraded Perrigo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Wells Fargo set a $84.00 price target on Perrigo and gave the stock a “market perform” rating in a research report on Monday. Finally, Berenberg Bank initiated coverage on Perrigo in a research report on Thursday, February 1st. They set a “buy” rating and a $117.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Perrigo has an average rating of “Hold” and an average price target of $93.06.

NYSE PRGO opened at $74.94 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.48 and a current ratio of 2.08. Perrigo has a 1 year low of $71.37 and a 1 year high of $75.36. The firm has a market capitalization of $10.73 billion, a P/E ratio of 15.20, a PEG ratio of 1.91 and a beta of 0.77.

Perrigo (NYSE:PRGO) last released its earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. analysts expect that Perrigo will post 5.27 earnings per share for the current fiscal year.

In other news, CEO Uwe Roehrhoff bought 7,500 shares of the stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $81.85 per share, with a total value of $613,875.00. Following the purchase, the chief executive officer now directly owns 4,900 shares in the company, valued at approximately $401,065. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH purchased a new stake in shares of Perrigo during the 1st quarter worth about $205,000. Rampart Investment Management Company LLC lifted its stake in Perrigo by 112.0% in the 1st quarter. Rampart Investment Management Company LLC now owns 3,498 shares of the company’s stock valued at $292,000 after buying an additional 1,848 shares in the last quarter. Clinton Group Inc. purchased a new position in Perrigo in the 1st quarter valued at about $222,000. Credit Agricole S A lifted its stake in Perrigo by 18.8% in the 1st quarter. Credit Agricole S A now owns 65,373 shares of the company’s stock valued at $5,447,000 after buying an additional 10,350 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in Perrigo by 1.2% in the 1st quarter. Cooke & Bieler LP now owns 85,123 shares of the company’s stock valued at $7,094,000 after buying an additional 1,000 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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