Cantor Fitzgerald Analysts Give Perrigo Company (PRGO) a $85.00 Price Target
Perrigo Company (NYSE:PRGO) has been assigned a $85.00 price objective by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 11.53% from the stock’s previous close.
PRGO has been the subject of several other reports. Royal Bank Of Canada cut Perrigo from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $66.00 to $60.00 in a research note on Monday, June 5th. Canaccord Genuity set a $80.00 price objective on Perrigo and gave the stock a “buy” rating in a research report on Wednesday, May 31st. BidaskClub raised Perrigo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Barclays PLC reaffirmed an “overweight” rating and set a $85.00 price objective (down from $100.00) on shares of Perrigo in a research report on Thursday, June 1st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $88.00 price objective (up from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $84.97.
Perrigo (PRGO) traded down 0.09% during mid-day trading on Monday, reaching $76.14. The company had a trading volume of 158,371 shares. Perrigo has a 52 week low of $65.47 and a 52 week high of $99.14. The stock’s market capitalization is $10.92 billion. The stock has a 50 day moving average of $73.37 and a 200 day moving average of $73.82.
Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, May 30th. The company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts anticipate that Perrigo will post $4.28 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. increased its stake in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after buying an additional 240 shares in the last quarter. Global X Management Co. LLC increased its stake in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after buying an additional 855 shares in the last quarter. Middleton & Co Inc MA bought a new stake in Perrigo during the second quarter valued at approximately $223,000. Teza Capital Management LLC bought a new stake in Perrigo during the first quarter valued at approximately $205,000. Finally, Bank of Nova Scotia increased its stake in Perrigo 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. 76.52% of the stock is owned by hedge funds and other institutional investors.
Perrigo 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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