Perrigo (NYSE:PRGO) has been given a $107.00 price objective by analysts at Cantor Fitzgerald in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 22.61% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Perrigo’s FY2017 earnings at $4.78 EPS and FY2018 earnings at $5.13 EPS.
A number of other research firms also recently issued reports on PRGO. Jefferies Group set a $71.00 price target on Perrigo and gave the company a “hold” rating in a research note on Sunday, October 29th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Friday, December 8th. UBS Group restated a “buy” rating and set a $98.00 price target (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Oppenheimer started coverage on Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target for the company. Finally, BidaskClub upgraded Perrigo from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $92.13.
Shares of Perrigo (NYSE:PRGO) traded down $1.24 during trading hours on Thursday, reaching $87.27. The company’s stock had a trading volume of 651,900 shares, compared to its average volume of 1,659,313. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $91.73. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12,465.81, a price-to-earnings ratio of -9.53, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70.
In related news, EVP John Wesolowski sold 450 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total value of $37,390.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $88.52, for a total value of $132,780.00. Following the completion of the transaction, the vice president now directly owns 19,565 shares in the company, valued at $1,731,893.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,551 shares of company stock valued at $222,590. 6.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRGO. Russell Investments Group Ltd. raised its holdings in shares of Perrigo by 5.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,686 shares of the company’s stock worth $1,034,000 after acquiring an additional 736 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Perrigo by 4.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 429,676 shares of the company’s stock worth $32,450,000 after acquiring an additional 18,095 shares in the last quarter. KBC Group NV raised its holdings in shares of Perrigo by 12.8% during the 2nd quarter. KBC Group NV now owns 13,298 shares of the company’s stock worth $1,004,000 after acquiring an additional 1,505 shares in the last quarter. BB&T Securities LLC raised its holdings in shares of Perrigo by 0.4% during the 2nd quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock worth $684,000 after acquiring an additional 35 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Perrigo by 37.5% during the 2nd quarter. Victory Capital Management Inc. now owns 31,736 shares of the company’s stock worth $2,397,000 after acquiring an additional 8,652 shares in the last quarter. 83.29% of the stock is currently owned by institutional investors.
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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.
