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.
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