Perrigo Company (PRGO) Given a $107.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $107.00 price target on Perrigo Company (NYSE:PRGO) in a research note published on Friday. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada set a $60.00 price target on Perrigo and gave the company a sell rating in a report on Sunday, July 16th. Deutsche Bank AG reissued a buy rating and set a $88.00 price objective (up from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Canaccord Genuity reissued a buy rating and set a $100.00 price objective (up from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. CIBC initiated coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an outperform rating and a $88.00 price objective for the company. Finally, UBS AG reissued a buy rating and set a $98.00 price objective (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $88.50.

Shares of Perrigo (PRGO) traded down 0.10% on Friday, reaching $87.44. The company had a trading volume of 918,877 shares. The firm’s market capitalization is $12.47 billion. Perrigo has a 1-year low of $63.68 and a 1-year high of $91.95. The firm has a 50-day moving average price of $85.70 and a 200 day moving average price of $76.16.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. Perrigo’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. Equities research analysts predict 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Over the last ninety days, insiders have sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PRGO. Vanguard Group Inc. boosted its position in Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after buying an additional 299,328 shares during the last quarter. Franklin Resources Inc. boosted its position in 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 during the last quarter. State Street Corp boosted its position in Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after buying an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Perrigo by 6.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock valued at $195,298,000 after buying an additional 165,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Perrigo by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,975,965 share

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada set a $60.00 price target on Perrigo and gave the company a sell rating in a report on Sunday, July 16th. Deutsche Bank AG reissued a buy rating and set a $88.00 price objective (up from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Canaccord Genuity reissued a buy rating and set a $100.00 price objective (up from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. CIBC initiated coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an outperform rating and a $88.00 price objective for the company. Finally, UBS AG reissued a buy rating and set a $98.00 price objective (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $88.50.

Shares of Perrigo (PRGO) traded down 0.10% on Friday, reaching $87.44. The company had a trading volume of 918,877 shares. The firm’s market capitalization is $12.47 billion. Perrigo has a 1-year low of $63.68 and a 1-year high of $91.95. The firm has a 50-day moving average price of $85.70 and a 200 day moving average price of $76.16.

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

COPYRIGHT VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/21/perrigo-company-prgo-given-a-107-00-price-target-at-cantor-fitzgerald.html.

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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Over the last ninety days, insiders have sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PRGO. Vanguard Group Inc. boosted its position in Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after buying an additional 299,328 shares during the last quarter. Franklin Resources Inc. boosted its position in 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 during the last quarter. State Street Corp boosted its position in Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after buying an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Perrigo by 6.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock valued at $195,298,000 after buying an additional 165,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Perrigo by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,975,965 shares of the company’s stock valued at $149,224,000 after buying an additional 304,950 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

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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