Perrigo’s (PRGO) “Buy” Rating Reiterated at Cantor Fitzgerald
Perrigo Company (NYSE:PRGO)‘s stock had its “buy” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday.
A number of other brokerages also recently issued reports on PRGO. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and increased their price target for the stock from $66.00 to $79.00 in a research report on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating and set a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Royal Bank Of Canada reissued a “hold” rating and set a $66.00 price target on shares of Perrigo in a research report on Wednesday, May 24th. Canaccord Genuity set a $86.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, BidaskClub downgraded Perrigo from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Perrigo has an average rating of “Hold” and an average price target of $86.83.
Perrigo (NYSE:PRGO) traded up 0.26% on Monday, hitting $77.47. 727,224 shares of the stock were exchanged. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14. The company’s 50-day moving average is $73.91 and its 200-day moving average is $73.22. The company’s market cap is $11.05 billion.
Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. On average, analysts predict that Perrigo will post $4.58 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/08/21/perrigos-prgo-buy-rating-reiterated-at-cantor-fitzgerald.html.
Several large investors have recently modified their holdings of PRGO. Bank of Montreal Can boosted its position in shares of Perrigo by 10.8% in the first quarter. Bank of Montreal Can now owns 82,020 shares of the company’s stock worth $5,445,000 after buying an additional 8,012 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Perrigo during the first quarter worth approximately $214,000. Retirement Systems of Alabama boosted its position in shares of Perrigo by 2.0% in the first quarter. Retirement Systems of Alabama now owns 69,305 shares of the company’s stock worth $4,601,000 after buying an additional 1,348 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Perrigo by 2.3% in the first quarter. Nationwide Fund Advisors now owns 54,999 shares of the company’s stock worth $3,651,000 after buying an additional 1,214 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Perrigo by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,824 shares of the company’s stock worth $237,000 after buying an additional 154 shares during the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.
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.