Perrigo Stock Rating Reaffirmed by Zacks (PRGO)
Perrigo (NASDAQ:PRGO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, Analyst Ratings Net reports. They currently have a $161.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 5.16% from the stock’s previous close.
Zacks‘ analyst wrote, “Perrigo Company’s first quarter fiscal 2014 earnings of $1.52 per share beat the Zacks Consensus Estimate by $0.12. Net sales in the first quarter climbed 21.3% to $933.4 million. Newly launched products aided revenues by $54 million. Revenues surpassed the Zacks Consensus Estimate of $903 million. Perrigo still expects earnings per share (on an adjusted basis) for fiscal 2014 to be in the range of $6.35 and $6.60, up 13%-18%. Perrigo’s recently completed acquisition of Elan is expected to boost fiscal 2014 earnings by $0.10 per share and fiscal 2015 earnings by $0.70-$0.80 inclusive of synergies. We expect investor focus to remain on the performance of the combined entity. We maintain our Neutral view on the stock.”
PRGO has been the subject of a number of other recent research reports. Analysts at Morgan Stanley initiated coverage on shares of Perrigo in a research note to investors on Thursday, December 19th. They set an “overweight” rating and a $183.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Perrigo from $150.00 to $165.00 in a research note to investors on Thursday, December 12th. They now have a “buy” rating on the stock. Finally, analysts at Argus raised their price target on shares of Perrigo from $152.00 to $160.00 in a research note to investors on Thursday, November 7th. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $143.74.
Perrigo (NASDAQ:PRGO) traded up 0.18% during mid-day trading on Friday, hitting $153.37. 338,259 shares of the company’s stock traded hands. Perrigo has a one year low of $98.79 and a one year high of $157.47. The stock has a 50-day moving average of $153.7 and a 200-day moving average of $133.5. The company has a market cap of $14.463 billion and a P/E ratio of 32.30.
Perrigo (NASDAQ:PRGO) last released its earnings data on Thursday, October 31st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The company had revenue of $933.00 million for the quarter, compared to the consensus estimate of $900.10 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts predict that Perrigo will post $6.62 earnings per share for the current fiscal year.
Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (NASDAQ:PRGO) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products and active pharmaceutical ingredients (API).
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