Perrigo Co. (NYSE:PRGO)‘s stock had its “sector perform” rating reaffirmed by analysts at RBC Capital Markets in a research report issued on Tuesday. They currently have a $92.00 target price on the stock. RBC Capital Markets’ target price would indicate a potential downside of 1.37% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Vetr lowered shares of Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price target on the stock. in a report on Monday, July 25th. Deutsche Bank AG upgraded shares of Perrigo from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Friday, July 22nd. Zacks Investment Research upgraded shares of Perrigo from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a report on Wednesday, July 20th. Guggenheim reiterated a “buy” rating and issued a $125.00 price target on shares of Perrigo in a report on Monday, August 22nd. Finally, Raymond James Financial Inc. reiterated a “hold” rating on shares of Perrigo in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $113.37.

Analyst Recommendations for Perrigo (NYSE:PRGO)

Perrigo (NYSE:PRGO) traded up 0.20% during trading on Tuesday, reaching $93.47. The company had a trading volume of 147,123 shares. The company’s market capitalization is $13.39 billion. Perrigo has a 52-week low of $82.50 and a 52-week high of $173.53. The stock has a 50 day moving average price of $91.00 and a 200-day moving average price of $102.63.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/perrigos-prgo-sector-perform-rating-reaffirmed-at-rbc-capital-markets.html

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 earnings per share. On average, equities research analysts anticipate that Perrigo will post $7.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 24th. Perrigo’s dividend payout ratio is presently -60.42%.

In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $90.96, for a total value of $97,600.08. Following the completion of the transaction, the director now owns 10,425 shares in the company, valued at approximately $948,258. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $89.95, for a total transaction of $522,969.30. Following the completion of the transaction, the director now owns 31,501 shares of the company’s stock, valued at approximately $2,833,514.95. The disclosure for this sale can be found here. Corporate insiders own 4.47% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parnassus Investments CA boosted its position in Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock valued at $498,584,000 after buying an additional 1,922,347 shares during the period. Franklin Resources Inc. boosted its position in Perrigo by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,661,431 shares of the company’s stock valued at $241,311,000 after buying an additional 33,921 shares during the period. BlackRock Fund Advisors boosted its position in Perrigo by 1.9% in the second quarter. BlackRock Fund Advisors now owns 2,527,908 shares of the company’s stock valued at $229,205,000 after buying an additional 48,129 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Perrigo during the second quarter valued at approximately $210,657,000. Finally, Aberdeen Asset Management PLC UK boosted its position in Perrigo by 23.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 2,322,257 shares of the company’s stock valued at $210,559,000 after buying an additional 443,511 shares during the period. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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.

5 Day Chart for NYSE:PRGO

Receive News & Ratings for Perrigo Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo Co. and related companies with MarketBeat.com's FREE daily email newsletter.