Perrigo Company (NYSE:PRGO) – Equities researchers at Oppenheimer increased their FY2017 EPS estimates for Perrigo in a research report issued on Sunday. Oppenheimer analyst D. Archila now forecasts that the company will earn $4.94 per share for the year, up from their previous forecast of $4.88. Oppenheimer has a “Buy” rating and a $88.00 price target on the stock. Oppenheimer also issued estimates for Perrigo’s Q1 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $5.49 EPS, FY2019 earnings at $5.82 EPS, FY2020 earnings at $6.22 EPS and FY2021 earnings at $6.54 EPS.
Several other research firms have also weighed in on PRGO. Royal Bank of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $64.00 to $86.00 in a research note on Friday, November 10th. Jefferies Group set a $71.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Sunday, October 29th. UBS Group reiterated a “buy” rating and issued a $98.00 price objective (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Saturday, December 16th. Finally, Canaccord Genuity set a $100.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Tuesday, December 26th. One equities research 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. The stock currently has an average rating of “Hold” and an average price target of $92.00.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. V Wealth Management LLC bought a new stake in shares of Perrigo during the 4th quarter worth $214,000. Allianz Asset Management GmbH bought a new stake in shares of Perrigo during the 3rd quarter worth $217,000. Conning Inc. bought a new stake in shares of Perrigo during the 3rd quarter worth $219,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Perrigo during the 3rd quarter worth $222,000. Finally, SOL Capital Management CO bought a new stake in shares of Perrigo during the 3rd quarter worth $227,000. Institutional investors own 83.33% of the company’s stock.
In other news, EVP John Wesolowski sold 388 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total transaction of $33,833.60. Following the transaction, the executive vice president now owns 248 shares in the company, valued at approximately $21,625.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, 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 approximately $1,731,893.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,051 shares of company stock worth $355,370. 6.90% of the stock is currently owned by company insiders.
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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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