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.

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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