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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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