Perrigo (PRGO) Lowered to “Hold” at Deutsche Bank

Perrigo (NYSE:PRGO) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research report on Thursday. ValuEngine raised shares of Perrigo from a “sell” rating to a “hold” rating in a research report on Wednesday. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Goldman Sachs Group lowered shares of Perrigo from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $78.00 to $74.00 in a research report on Thursday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $85.00 price objective on shares of Perrigo in a research report on Monday, June 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $93.38.

Shares of Perrigo opened at $70.03 on Friday, according to Marketbeat. The stock has a market capitalization of $10.88 billion, a PE ratio of 14.20, a P/E/G ratio of 1.85 and a beta of 0.84. Perrigo has a fifty-two week low of $69.23 and a fifty-two week high of $95.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.48 and a current ratio of 2.08.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, August 9th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. Perrigo had a net margin of 2.59% and a return on equity of 11.93%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. equities research analysts anticipate that Perrigo will post 5.23 EPS for the current fiscal year.

In other Perrigo news, Director Jeffrey C. Smith purchased 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were acquired at an average cost of $75.21 per share, for a total transaction of $18,802,500.00. Following the completion of the purchase, the director now owns 528 shares of the company’s stock, valued at approximately $39,710.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey C. Smith purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The stock was acquired at an average price of $75.89 per share, for a total transaction of $3,794,500.00. Following the completion of the purchase, the director now directly owns 528 shares of the company’s stock, valued at approximately $40,069.92. The disclosure for this purchase can be found here. Corporate insiders own 6.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its stake in Perrigo by 143.5% during the fourth quarter. LPL Financial LLC now owns 7,545 shares of the company’s stock worth $658,000 after buying an additional 4,447 shares in the last quarter. Global X Management Co. LLC grew its stake in Perrigo by 277.8% during the first quarter. Global X Management Co. LLC now owns 11,020 shares of the company’s stock worth $918,000 after buying an additional 8,103 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Perrigo during the first quarter worth about $640,000. Sentry Investment Management LLC grew its stake in Perrigo by 9.0% during the first quarter. Sentry Investment Management LLC now owns 9,140 shares of the company’s stock worth $762,000 after buying an additional 751 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Perrigo by 36.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,963,646 shares of the company’s stock worth $163,650,000 after buying an additional 527,025 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.

Perrigo Company Profile

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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