Perrigo Company (PRGO) Upgraded at BidaskClub
Perrigo Company (NYSE:PRGO) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.
PRGO has been the topic of a number of other research reports. Canaccord Genuity set a $86.00 target price on shares of Perrigo Company and gave the stock a “buy” rating in a research note on Saturday, March 18th. B. Riley reissued a “neutral” rating and issued a $67.00 target price on shares of Perrigo Company in a report on Wednesday, March 8th. Royal Bank Of Canada lowered shares of Perrigo Company from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $66.00 to $60.00 in a report on Monday, June 5th. Cantor Fitzgerald initiated coverage on shares of Perrigo Company in a report on Friday. They issued an “overweight” rating and a $85.00 target price for the company. Finally, Guggenheim reissued a “buy” rating and issued a $125.00 target price on shares of Perrigo Company in a report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Perrigo Company presently has an average rating of “Hold” and a consensus target price of $84.44.
Shares of Perrigo Company (NYSE:PRGO) traded down 1.07% on Tuesday, hitting $72.36. 1,215,757 shares of the stock were exchanged. The company’s market cap is $10.38 billion. Perrigo Company has a 12 month low of $65.47 and a 12 month high of $99.14. The company has a 50-day moving average price of $72.66 and a 200 day moving average price of $75.24.
Perrigo Company (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, May 30th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. Perrigo Company had a negative net margin of 43.81% and a positive return on equity of 11.79%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $1.32 EPS. Perrigo Company’s revenue for the quarter was down 11.4% on a year-over-year basis. Equities analysts forecast that Perrigo Company will post $4.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Friday, May 26th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Wednesday, May 24th. Perrigo Company’s dividend payout ratio is currently -3.90%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of PRGO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Perrigo Company by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,219 shares of the company’s stock valued at $684,000 after buying an additional 36 shares in the last quarter. Bank of Nova Scotia increased its position in Perrigo Company by 2.5% in the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock valued at $214,000 after buying an additional 80 shares in the last quarter. Advantus Capital Management Inc increased its position in Perrigo Company by 0.6% in the first quarter. Advantus Capital Management Inc now owns 14,299 shares of the company’s stock valued at $949,000 after buying an additional 86 shares in the last quarter. Arizona State Retirement System increased its position in Perrigo Company by 0.3% in the first quarter. Arizona State Retirement System now owns 35,500 shares of the company’s stock valued at $2,357,000 after buying an additional 100 shares in the last quarter. Finally, Cadence Capital Management LLC increased its position in Perrigo Company by 2.9% in the fourth quarter. Cadence Capital Management LLC now owns 4,138 shares of the company’s stock valued at $344,000 after buying an additional 115 shares in the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company Company Profile
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.
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