Perrigo Company (NYSE:PRGO) Given Buy Rating at UBS AG

UBS AG reiterated their buy rating on shares of Perrigo Company (NYSE:PRGO) in a research report released on Thursday, October 5th, 99wallstreet.com reports. UBS AG currently has a $98.00 price objective on the stock, up from their previous price objective of $84.00.

PRGO has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed a sell rating and issued a $64.00 price target on shares of Perrigo in a research note on Wednesday, September 13th. Wells Fargo & Company reaffirmed a market perform rating and issued a $77.00 price target on shares of Perrigo in a research note on Tuesday, August 15th. Stifel Nicolaus reaffirmed a hold rating on shares of Perrigo in a research note on Friday, August 11th. Deutsche Bank AG upped 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. Finally, Oppenheimer Holdings, Inc. began coverage on shares of Perrigo in a research note on Monday, October 2nd. They issued a buy rating and a $88.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Perrigo has an average rating of Hold and a consensus price target of $88.50.

Perrigo (NYSE PRGO) traded up 0.08% during trading on Thursday, hitting $87.11. The company’s stock had a trading volume of 259,006 shares. The company has a 50-day moving average of $84.49 and a 200 day moving average of $75.53. The firm’s market cap is $12.42 billion. Perrigo has a one year low of $63.68 and a one year high of $92.64.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. Perrigo’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. On average, equities analysts forecast that Perrigo will post $4.59 earnings per share for the current year.

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In related news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the sale, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total transaction of $47,370.40. Following the sale, the executive vice president now directly owns 2,724 shares of the company’s stock, valued at $209,475.60. The disclosure for this sale can be found here. Insiders have sold 6,894 shares of company stock worth $581,320 over the last ninety days. 6.90% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in PRGO. BlackRock Inc. raised its stake in Perrigo by 3,825.1% during the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock valued at $806,936,000 after purchasing an additional 11,844,832 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after buying an additional 4,383,903 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Perrigo by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock valued at $967,619,000 after buying an additional 633,343 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Perrigo by 50.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock valued at $139,485,000 after buying an additional 623,370 shares in the last quarter. Finally, North Tide Capital LLC acquired a new position in shares of Perrigo in the 1st quarter valued at $39,834,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Perrigo Company Profile

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)

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