Research analysts at CIBC assumed coverage on shares of Perrigo Company (NYSE:PRGO) in a report issued on Thursday. The brokerage set an “outperform” rating and a $88.00 price target on the stock. CIBC’s target price indicates a potential upside of 12.35% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada set a $60.00 price objective on shares of Perrigo and gave the company a “sell” rating in a report on Sunday, July 16th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $68.00 price objective on shares of Perrigo in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “buy” rating and set a $88.00 price objective (up previously from $86.00) on shares of Perrigo in a report on Monday, July 17th. Canaccord Genuity set a $86.00 price objective on shares of Perrigo and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, BidaskClub raised shares of Perrigo from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.00.

Perrigo (PRGO) traded up 4.93% during mid-day trading on Thursday, reaching $82.19. The company’s stock had a trading volume of 2,637,740 shares. The firm’s market cap is $11.72 billion. Perrigo has a 12-month low of $63.68 and a 12-month high of $99.14. The company has a 50-day moving average price of $75.43 and a 200-day moving average price of $72.98.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $1.93 EPS. Perrigo’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that Perrigo will post $4.58 earnings per share for the current year.

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In other Perrigo news, EVP Sharon Kochan sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $79.03, for a total value of $118,545.00. Following the completion of the sale, the executive vice president now owns 10,349 shares of the company’s stock, valued at $817,881.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Farrington sold 865 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $78.40, for a total transaction of $67,816.00. Following the completion of the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at approximately $225,008. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,981 shares of company stock valued at $233,731. 6.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co lifted its stake in Perrigo by 0.6% in the first quarter. Trust Co now owns 2,610 shares of the company’s stock worth $334,000 after purchasing an additional 15 shares during the last quarter. IFP Advisors Inc lifted its stake in Perrigo by 1.5% in the first quarter. IFP Advisors Inc now owns 1,817 shares of the company’s stock worth $232,000 after purchasing an additional 27 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in Perrigo by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 9,077 shares of the company’s stock worth $823,000 after purchasing an additional 29 shares during the last quarter. Cadence Capital Management LLC lifted its stake in Perrigo by 1.2% in the second quarter. Cadence Capital Management LLC now owns 2,733 shares of the company’s stock worth $248,000 after purchasing an additional 33 shares during the last quarter. Finally, BB&T Securities LLC lifted its stake in Perrigo by 0.4% in the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock worth $684,000 after purchasing an additional 35 shares during the last quarter. 80.36% of the stock is 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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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