Perrigo (PRGO) Coverage Initiated by Analysts at Leerink Swann

Analysts at Leerink Swann started coverage on shares of Perrigo (NYSE:PRGO) in a research note issued on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the stock.

Several other equities research analysts have also recently commented on PRGO. BidaskClub cut shares of Perrigo from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the stock a “buy” rating in a research report on Friday, October 20th. Deutsche Bank increased their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target (up from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Finally, Jefferies Group set a $71.00 price target on shares of Perrigo and gave the stock a “hold” rating in a research note on Sunday, October 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Perrigo currently has a consensus rating of “Hold” and a consensus target price of $92.13.

Shares of Perrigo (PRGO) traded down $0.11 on Tuesday, reaching $87.16. 442,300 shares of the company’s stock traded hands, compared to its average volume of 1,654,465. The stock has a market cap of $12,275.68, a PE ratio of -9.52, a P/E/G ratio of 1.86 and a beta of 0.70. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $91.73.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share 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 analysts’ expectations 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 revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 EPS. analysts predict 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 the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the sale, the vice president now owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Wesolowski sold 450 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $83.09, for a total transaction of $37,390.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,051 shares of company stock valued at $355,370. 6.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Perrigo by 2.1% in the second quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after buying an additional 299,328 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Perrigo by 117.7% in the second quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after buying an additional 4,383,903 shares during the last quarter. State Street Corp lifted its holdings in Perrigo by 1.7% during the second quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after purchasing an additional 112,287 shares in the last quarter. Greenlight Capital Inc. lifted its holdings in Perrigo by 14.8% during the third quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock valued at $245,572,000 after purchasing an additional 374,032 shares in the last quarter. Finally, Parnassus Investments CA lifted its holdings in Perrigo by 7.1% during the third quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock valued at $191,055,000 after purchasing an additional 150,000 shares in the last quarter. 83.29% of the stock is currently owned by institutional investors.

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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.