Wells Fargo & Company Reiterates “Market Perform” Rating for Perrigo Company (PRGO)
Perrigo Company (NYSE:PRGO)‘s stock had its “market perform” rating restated by equities researchers at Wells Fargo & Company in a research note issued to investors on Tuesday. They currently have a $77.00 target price on the stock. Wells Fargo & Company’s price objective points to a potential downside of 0.99% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Royal Bank Of Canada downgraded shares of Perrigo from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from $66.00 to $60.00 in a research report on Monday, June 5th. Cantor Fitzgerald set a $93.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $71.00 target price (up from $69.00) on shares of Perrigo in a research report on Friday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Perrigo in a research report on Friday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $88.00 target price (up from $80.00) on shares of Perrigo in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $87.74.
Shares of Perrigo (NYSE:PRGO) traded up 0.61% during midday trading on Tuesday, hitting $77.77. 1,259,842 shares of the stock were exchanged. Perrigo has a 12 month low of $63.68 and a 12 month high of $99.14. The stock has a 50 day moving average price of $73.65 and a 200-day moving average price of $73.10. The company’s market cap is $11.14 billion.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.37%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. On average, analysts predict that Perrigo will post $4.46 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/08/15/wells-fargo-company-reiterates-market-perform-rating-for-perrigo-company-prgo.html.
Several hedge funds have recently modified their holdings of PRGO. Nomura Holdings Inc. purchased a new stake in shares of Perrigo during the second quarter valued at $1,174,000. Bank of Nova Scotia increased its stake in shares of Perrigo by 7.8% in the second quarter. Bank of Nova Scotia now owns 3,469 shares of the company’s stock valued at $262,000 after buying an additional 250 shares during the last quarter. Roberts Glore & Co. Inc. IL purchased a new stake in shares of Perrigo during the second quarter valued at $332,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Perrigo by 50.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock valued at $139,485,000 after buying an additional 623,370 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Perrigo by 1.3% in the second quarter. Earnest Partners LLC now owns 95,923 shares of the company’s stock valued at $7,244,000 after buying an additional 1,217 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Perrigo Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo Company and related companies with MarketBeat.com's FREE daily email newsletter.