Perrigo (PRGO) PT Set at $100.00 by Canaccord Genuity

Canaccord Genuity set a $100.00 price objective on Perrigo (NYSE:PRGO) in a report published on Monday morning. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on PRGO. Oppenheimer began coverage on shares of Perrigo in a research note on Thursday, September 7th. They issued an outperform rating and a $88.00 price objective on the stock. CIBC began coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an outperform rating and a $88.00 price target on the stock. BidaskClub raised shares of Perrigo from a strong sell rating to a sell rating in a research note on Saturday, September 9th. Cantor Fitzgerald raised their price target on shares of Perrigo from $93.00 to $107.00 and gave the stock an overweight rating in a research note on Tuesday, September 12th. Finally, Royal Bank of Canada reaffirmed a sell rating and set a $64.00 price target on shares of Perrigo in a research note on Wednesday, September 13th. One equities 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 stock. The company presently has a consensus rating of Hold and a consensus price target of $92.00.

Perrigo (NYSE PRGO) opened at $91.08 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. Perrigo has a 12 month low of $63.68 and a 12 month high of $92.04. The firm has a market cap of $12,596.79, a price-to-earnings ratio of -9.94, a PEG ratio of 1.73 and a beta of 0.70.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion for 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 business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. research analysts predict that Perrigo will post 4.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. Perrigo’s payout ratio is currently -6.99%.

In related news, EVP John Wesolowski sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $83.09, for a total value of $37,390.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the transaction, the vice president now owns 19,565 shares in the company, valued at approximately $1,731,893.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,051 shares of company stock worth $355,370. Insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRGO. Vanguard Group Inc. raised its stake in shares of Perrigo by 2.1% during the second quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after purchasing an additional 299,328 shares during the period. Franklin Resources Inc. grew its position in shares of Perrigo by 117.7% during 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 in the last quarter. State Street Corp grew its position in shares of Perrigo by 1.7% during the second quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after buying an additional 112,287 shares in the last quarter. Greenlight Capital Inc. grew its position in shares of Perrigo by 14.8% during the third quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock worth $245,572,000 after buying an additional 374,032 shares in the last quarter. Finally, Parnassus Investments CA grew its position in shares of Perrigo by 7.1% during the third quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock worth $191,055,000 after buying an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 83.29% of the company’s stock.

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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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