Perrigo (NYSE:PRGO) has been assigned a $107.00 target price by analysts at Cantor Fitzgerald in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 17.04% from the stock’s current price.
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/).””
Several other analysts also recently issued reports on the company. BidaskClub downgraded Perrigo from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Jefferies Group set a $71.00 price target on Perrigo and gave the stock a “hold” rating in a report on Sunday, October 29th. Royal Bank of Canada raised Perrigo from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $64.00 to $86.00 in a report on Friday, November 10th. Morgan Stanley raised their price target on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. Finally, Argus raised Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Perrigo presently has an average rating of “Hold” and an average price target of $92.00.
Perrigo (NYSE:PRGO) last released its earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.28. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. analysts anticipate that Perrigo will post 4.88 earnings per share for the current fiscal year.
In other news, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction 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 directly owns 19,565 shares in the company, valued at approximately $1,731,893.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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. Over the last 90 days, insiders sold 4,051 shares of company stock worth $355,370. 6.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of PRGO. Allianz Asset Management GmbH acquired a new position in shares of Perrigo during the 3rd quarter valued at $217,000. Conning Inc. acquired a new position in shares of Perrigo during the 3rd quarter valued at $219,000. BlueCrest Capital Management Ltd acquired a new position in shares of Perrigo during the 2nd quarter valued at $221,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Perrigo during the 3rd quarter valued at $222,000. Finally, SOL Capital Management CO acquired a new position in shares of Perrigo during the 3rd quarter valued at $227,000. Institutional investors own 83.22% 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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