Perrigo Company (PRGO) Stock Rating Upgraded by BidaskClub
Perrigo Company (NYSE:PRGO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
PRGO has been the subject of several other reports. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $64.00 price objective on shares of Perrigo in a report on Wednesday. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $77.00 price objective on shares of Perrigo in a report on Tuesday, August 15th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Perrigo in a 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 note on Wednesday, May 31st. Finally, Deutsche Bank AG increased their target price on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $89.36.
Perrigo (NYSE:PRGO) traded down 2.22% during midday trading on Friday, hitting $86.90. 3,571,502 shares of the stock were exchanged. The firm’s 50-day moving average price is $77.62 and its 200 day moving average price is $73.23. The firm’s market capitalization is $12.39 billion. Perrigo has a 1-year low of $63.68 and a 1-year high of $99.14.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. Perrigo’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.93 EPS. Analysts expect that Perrigo will post $4.58 earnings per share for the current fiscal year.
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In other Perrigo news, EVP Thomas Farrington sold 616 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total value of $47,370.40. Following the sale, the executive vice president now owns 2,724 shares of the company’s stock, valued at approximately $209,475.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the sale, the executive vice president now directly owns 10,118 shares in the company, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,894 shares of company stock worth $581,320. 6.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in PRGO. BlackRock Inc. grew its holdings in Perrigo by 3,825.1% in the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after acquiring an additional 11,844,832 shares during the last quarter. Franklin Resources Inc. grew its holdings in Perrigo by 117.7% in the 2nd 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 last quarter. Vanguard Group Inc. grew its holdings in Perrigo by 4.5% in the 1st 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 last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Perrigo by 50.9% in the 2nd 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 last quarter. Finally, North Tide Capital LLC bought a new stake in Perrigo in the 1st quarter worth $39,834,000. 80.36% of the stock is currently owned by institutional investors and hedge funds.
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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