Deutsche Bank AG Increases Perrigo Company (PRGO) Price Target to $95.00
Perrigo Company (NYSE:PRGO) had its price target raised by Deutsche Bank AG to $95.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price target suggests a potential upside of 6.73% from the company’s previous close.
PRGO has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 price objective on shares of Perrigo in a research note on Wednesday. Wells Fargo & Company reissued a “market perform” rating and set a $77.00 target price on shares of Perrigo in a research report on Tuesday, August 15th. Stifel Nicolaus reissued a “hold” rating on shares of Perrigo in a research report on Friday, August 11th. Canaccord Genuity set a $80.00 target price on shares of Perrigo and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, Cantor Fitzgerald set a $85.00 target price on shares of Perrigo and gave the stock a “buy” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Perrigo presently has an average rating of “Hold” and an average price target of $89.36.
Perrigo (NYSE PRGO) traded down 0.74% on Thursday, hitting $88.35. 524,781 shares of the stock traded hands. The stock’s market cap is $12.60 billion. The firm’s 50-day moving average price is $76.52 and its 200-day moving average price is $72.99. Perrigo has a 12-month low of $63.68 and a 12-month high of $99.14.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $1.93 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Perrigo will post $4.58 EPS for the current fiscal year.
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In other Perrigo news, EVP Thomas Farrington sold 865 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the completion of the sale, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The disclosure for this sale can be found here. Insiders sold 3,299 shares of company stock valued at $259,604 in the last ninety days. 6.90% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Sentry Investment Management LLC boosted its stake in shares of Perrigo by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 11,028 shares of the company’s stock valued at $833,000 after buying an additional 117 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Perrigo by 25.1% during the 2nd quarter. Toronto Dominion Bank now owns 48,394 shares of the company’s stock valued at $3,654,000 after buying an additional 9,702 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Perrigo by 62.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 7,000 shares of the company’s stock valued at $528,000 after buying an additional 2,700 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Perrigo during the 2nd quarter valued at approximately $1,174,000. Finally, Bank of Nova Scotia boosted its stake in shares of Perrigo by 7.8% during the 2nd 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. Institutional investors own 80.36% of the company’s stock.
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.
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