Perrigo Company (PRGO) Upgraded to “Sell” at BidaskClub
Perrigo Company (NYSE:PRGO) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.
A number of other brokerages have also recently weighed in on PRGO. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $79.00 in a report on Friday, August 11th. Deutsche Bank AG reaffirmed a “buy” rating and set a $88.00 target price (up from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $66.00 target price on shares of Perrigo in a research report on Wednesday, May 24th. Canaccord Genuity set a $86.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. initiated coverage on Perrigo in a research report on Thursday. They set an “outperform” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $87.00.
Perrigo (PRGO) traded up 0.73% during trading on Friday, reaching $82.79. The company’s stock had a trading volume of 1,828,531 shares. The company’s market capitalization is $11.81 billion. The company has a 50 day moving average price of $75.91 and a 200-day moving average price of $73.11. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Equities research analysts anticipate that Perrigo will post $4.58 earnings per share for the current year.
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In other news, EVP Sharon Kochan sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $79.03, for a total transaction of $118,545.00. Following the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at $817,881.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the sale, the executive vice president now directly owns 2,724 shares in the company, valued at $209,475.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,981 shares of company stock valued at $233,731. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Perrigo by 3,825.1% during the first quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after purchasing an additional 11,844,832 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Perrigo by 117.7% during the second quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after acquiring an additional 4,383,903 shares during the period. Aberdeen Asset Management PLC UK raised its holdings in shares of Perrigo by 65.2% during the first quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after acquiring an additional 1,195,526 shares during the period. Vanguard Group Inc. raised its holdings in shares of Perrigo by 4.5% during the first quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock worth $967,619,000 after acquiring an additional 633,343 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Perrigo by 50.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock worth $139,485,000 after acquiring an additional 623,370 shares during the period. 80.36% 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.
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