UBS AG Reaffirms “Buy” Rating for Perrigo Company (PRGO)
Perrigo Company (NYSE:PRGO)‘s stock had its “buy” rating restated by UBS AG in a report issued on Thursday, 99wallstreet.com reports. They currently have a $98.00 price target on the stock, up from their prior price target of $84.00. UBS AG’s target price points to a potential upside of 12.35% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Royal Bank Of Canada set a $60.00 target price on shares of Perrigo and gave the stock a “sell” rating in a report on Sunday, July 16th. Jefferies Group LLC restated a “hold” rating and set a $71.00 price target (up previously from $69.00) on shares of Perrigo in a research report on Friday, August 11th. Wells Fargo & Company restated a “market perform” rating and set a $77.00 price target on shares of Perrigo in a research report on Tuesday, August 15th. Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target for the company. Finally, BidaskClub upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 9th. One analyst has 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 presently has a consensus rating of “Hold” and an average target price of $88.50.
Perrigo (PRGO) traded down 0.52% on Thursday, hitting $86.78. 129,091 shares of the company were exchanged. The stock’s market cap is $12.38 billion. The firm has a 50 day moving average of $82.62 and a 200-day moving average of $74.62. Perrigo has a 52-week low of $63.68 and a 52-week high of $94.95.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. On average, equities analysts expect that Perrigo will post $4.58 earnings per share for the current fiscal year.
In other news, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the transaction, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the transaction, the executive vice president now owns 2,724 shares of the company’s stock, valued at approximately $209,475.60. The disclosure for this sale can be found here. Insiders sold a total of 6,894 shares of company stock valued at $581,320 in the last quarter. 6.90% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Korea Investment CORP boosted its position in shares of Perrigo by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after purchasing an additional 781 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after purchasing an additional 176 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Perrigo by 15.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after purchasing an additional 240 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Perrigo by 56.4% during the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after purchasing an additional 855 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors own 82.44% 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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