Shares of Perrigo Company (NYSE:PRGO) have been given an average recommendation of “Hold” by the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $88.50.

PRGO has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $60.00 price target on shares of Perrigo and gave the company a “sell” rating in a research note on Sunday, July 16th. Deutsche Bank AG restated a “buy” rating and set a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Canaccord Genuity restated a “buy” rating and set a $100.00 price target (up previously from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Cantor Fitzgerald upped their price target on shares of Perrigo from $93.00 to $107.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Finally, CIBC initiated coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target on the stock.

Shares of Perrigo (PRGO) traded down 1.86% during midday trading on Wednesday, reaching $84.46. 984,062 shares of the company traded hands. The company’s market capitalization is $12.04 billion. Perrigo has a 1-year low of $63.68 and a 1-year high of $92.64. The company has a 50 day moving average price of $85.91 and a 200 day moving average price of $76.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $1.93 EPS. Perrigo’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts expect that Perrigo will post $4.59 earnings per share for the current year.

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In related news, EVP Sharon Kochan sold 318 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at $832,394.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Needham sold 3,595 shares of the 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 sale, the executive vice president now directly owns 10,118 shares in the company, valued at $905,459.82. The disclosure for this sale can be found here. Insiders have sold 6,894 shares of company stock worth $581,320 over the last three months. 6.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGO. Franklin Resources Inc. boosted its holdings in 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 buying an additional 4,383,903 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 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 buying an additional 623,370 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Perrigo during the second quarter worth $27,377,000. Gotham Asset Management LLC purchased a new stake in Perrigo during the second quarter worth $24,950,000. Finally, Neuberger Berman Group LLC boosted its holdings in Perrigo by 88.1% during the second quarter. Neuberger Berman Group LLC now owns 697,384 shares of the company’s stock worth $52,666,000 after buying an additional 326,651 shares in the last quarter. 82.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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