Perrigo (NYSE:PRGO) has been assigned a $107.00 price objective by research analysts at Cantor Fitzgerald in a note issued to investors on Saturday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 23.70% from the company’s current price.
A number of other brokerages also recently commented on PRGO. Deutsche Bank lifted 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, September 14th. Royal Bank of Canada reaffirmed a “sell” rating and set a $64.00 target price on shares of Perrigo in a research note on Wednesday, September 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 target price (up from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Wells Fargo & Company lifted their target price on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research note on Friday, November 10th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $81.00 target price on shares of Perrigo in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Perrigo currently has an average rating of “Hold” and a consensus target price of $92.13.
Perrigo (PRGO) opened at $86.50 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The firm has a market cap of $11,836.25, a PE ratio of 17.15, a PEG ratio of 1.79 and a beta of 0.70. Perrigo has a 52 week low of $63.68 and a 52 week high of $91.73.
In related news, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,051 shares of company stock valued at $89,810 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Perrigo by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after acquiring an additional 299,328 shares in the last quarter. Franklin Resources Inc. grew its holdings in Perrigo by 117.7% during 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 in the last quarter. State Street Corp grew its holdings in Perrigo by 1.7% during the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after acquiring an additional 112,287 shares in the last quarter. Greenlight Capital Inc. grew its holdings in Perrigo by 14.8% during the 3rd quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock worth $245,572,000 after acquiring an additional 374,032 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in Perrigo by 7.1% during the 3rd quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock worth $191,055,000 after acquiring an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.
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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.
