Brokerages Set Perrigo Company (PRGO) PT at $91.50

Perrigo Company (NYSE:PRGO) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $91.50.

Several equities research analysts have recently issued reports on PRGO shares. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $79.00 in a research report on Friday, August 11th. Jefferies Group LLC set a $71.00 price target on Perrigo and gave the company a “hold” rating in a research report on Sunday, October 29th. UBS AG reaffirmed a “buy” rating and issued a $98.00 price target (up from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. started coverage on Perrigo in a research report on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, Cantor Fitzgerald raised their price target on Perrigo from $93.00 to $107.00 and gave the company an “overweight” rating in a research report on Tuesday, September 12th.

Perrigo (NYSE:PRGO) traded down $0.05 during trading on Friday, reaching $86.70. 481,956 shares of the company’s stock traded hands, compared to its average volume of 1,727,286. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The firm has a market capitalization of $12,220.00, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.81 and a beta of 0.59. Perrigo has a 52-week low of $63.68 and a 52-week high of $91.73.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. equities research analysts forecast that Perrigo will post 4.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio is -6.99%.

In other news, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of the transaction, the executive vice president now owns 10,118 shares in the company, valued at $905,459.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Farrington sold 616 shares of Perrigo stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the completion of the transaction, the executive vice president now owns 2,724 shares of the company’s stock, valued at approximately $209,475.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,242 shares of company stock valued at $532,091. Corporate insiders own 6.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BB&T Securities LLC raised its stake in shares of Perrigo by 0.4% in the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock valued at $684,000 after acquiring an additional 35 shares during the last quarter. Shufro Rose & Co. LLC raised its stake in shares of Perrigo by 1.2% in the second quarter. Shufro Rose & Co. LLC now owns 5,415 shares of the company’s stock valued at $409,000 after acquiring an additional 65 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Perrigo by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $672,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Perrigo by 0.3% in the second quarter. Arizona State Retirement System now owns 35,600 shares of the company’s stock valued at $2,689,000 after acquiring an additional 100 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Perrigo by 0.3% in the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock valued at $2,961,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

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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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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