Perrigo’s (PRGO) “Buy” Rating Reiterated at Cantor Fitzgerald
Perrigo (NYSE:PRGO)‘s stock had its “buy” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Friday. They presently have a $107.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.70% from the stock’s previous close.
The analysts wrote, “The CDC today released updated data on the 2017-2018 Influenza Season for Week 2, ending 01/13/18 (https://www.cdc.gov/flu/weekly/).””
PRGO has been the topic of a number of other reports. Barclays lifted their price target on Perrigo to $93.00 and gave the stock an “overweight” rating in a research note on Monday, December 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price target on shares of Perrigo in a research note on Wednesday. Leerink Swann began coverage on Perrigo in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price target on the stock. Royal Bank of Canada raised Perrigo from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $64.00 to $86.00 in a research note on Friday, November 10th. Finally, Oppenheimer began coverage on Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Perrigo currently has an average rating of “Hold” and an average price target of $92.00.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $1.65 earnings per share. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. analysts anticipate that Perrigo will post 4.88 earnings per share for the current fiscal year.
In related news, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $88.52, for a total transaction of $132,780.00. Following the transaction, the vice president now owns 19,565 shares in the company, valued at $1,731,893.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Wesolowski sold 450 shares of Perrigo 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 4,051 shares of company stock worth $355,370. 6.90% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Korea Investment CORP raised its position in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after purchasing an additional 781 shares during the period. Amica Retiree Medical Trust purchased a new stake in Perrigo in the second quarter valued at $105,000. Commonwealth Bank of Australia raised its position in Perrigo by 13.8% in the second 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 during the period. Johnson Financial Group Inc. raised its position in Perrigo by 15.6% in the first 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 during the period. Finally, Spirit of America Management Corp NY purchased a new stake in Perrigo in the third quarter valued at $120,000. Institutional investors own 83.22% of the company’s stock.
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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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