Perrigo Company PLC Upgraded to Buy at B. Riley (PRGO)
Perrigo Company PLC (NASDAQ:PRGO) was upgraded by research analysts at B. Riley from a “neutral” rating to a “buy” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $180.00 price target on the stock, up from their previous price target of $157.00. B. Riley’s target price suggests a potential upside of 20.57% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Perrigo Company PLC from $160.00 to $176.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Perrigo Company PLC in a research note on Tuesday, July 22nd. They set a “buy” rating and a $189.00 price target on the stock. Finally, analysts at Morgan Stanley downgraded shares of Perrigo Company PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Perrigo Company PLC currently has a consensus rating of “Buy” and a consensus target price of $167.83.
Perrigo Company PLC (NASDAQ:PRGO) opened at 149.29 on Friday. Perrigo Company PLC has a 52 week low of $115.94 and a 52 week high of $168.39. The stock’s 50-day moving average is $149.9 and its 200-day moving average is $148.. The company has a market cap of $19.975 billion and a price-to-earnings ratio of 81.94.
Perrigo Company PLC (NASDAQ:PRGO) last issued its quarterly earnings data on Thursday, August 14th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.19. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. On average, analysts predict that Perrigo Company PLC will post $7.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.28%.
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (NASDAQ:PRGO) 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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