Perrigo Company (PRGO) Given Consensus Rating of “Hold” by Analysts
Perrigo Company (NYSE:PRGO) has earned an average recommendation of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $92.13.
A number of equities research analysts have recently issued reports on PRGO shares. Cantor Fitzgerald reissued a “buy” rating on shares of Perrigo in a research report on Monday, August 21st. Oppenheimer started coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price objective for the company. CIBC started coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price objective for the company. BidaskClub raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 9th. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th.
Shares of Perrigo (PRGO) traded up $0.10 during mid-day trading on Thursday, hitting $86.02. 1,106,400 shares of the stock were exchanged, compared to its average volume of 1,683,894. Perrigo has a 12-month low of $63.68 and a 12-month high of $91.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. The company has a market cap of $12,120.00, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, November 30th. Perrigo’s payout ratio is currently -6.99%.
In other Perrigo news, EVP John Wesolowski sold 450 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $83.09, for a total value of $37,390.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 1,051 shares of company stock worth $89,810. Corporate insiders own 6.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PRGO. Franklin Resources Inc. lifted its stake 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 purchasing an additional 4,383,903 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Perrigo by 3,286.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,074,770 shares of the company’s stock valued at $90,979,000 after buying an additional 1,043,034 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Perrigo by 50.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock valued at $139,485,000 after buying an additional 623,370 shares in the last quarter. Greenlight Capital Inc. raised its position in shares of Perrigo by 14.8% during the 3rd quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock valued at $245,572,000 after buying an additional 374,032 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Perrigo during the 2nd quarter valued at about $27,377,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
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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