Cantor Fitzgerald Reiterates $107.00 Price Target for Perrigo (PRGO)

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) traded down $0.27 during trading hours on Friday, reaching $91.42. The company’s stock had a trading volume of 664,977 shares, compared to its average volume of 987,000. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. Perrigo has a 52 week low of $63.68 and a 52 week high of $92.75. The company has a market cap of $12,910.00, a P/E ratio of -9.98, a PEG ratio of 1.93 and a beta of 0.64.

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.

TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/19/perrigos-prgo-buy-rating-reiterated-at-cantor-fitzgerald-2.html.

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply