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.

About Perrigo

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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