Perrigo’s (PRGO) Buy Rating Reaffirmed at Canaccord Genuity
Perrigo Company (NYSE:PRGO)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a research note issued on Thursday, Marketbeat reports. They presently have a $88.00 target price on the stock, up from their previous target price of $80.00. Canaccord Genuity’s target price would suggest a potential upside of 13.84% from the company’s previous close.
A number of other analysts also recently commented on the stock. BidaskClub downgraded shares of Perrigo from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Cantor Fitzgerald set a $85.00 target price on shares of Perrigo and gave the stock a “buy” rating in a report on Monday, July 24th. ValuEngine downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $66.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Perrigo currently has a consensus rating of “Hold” and a consensus target price of $85.31.
Perrigo (NYSE:PRGO) opened at 77.30 on Thursday. Perrigo has a one year low of $63.68 and a one year high of $99.14. The stock’s market capitalization is $11.08 billion. The firm has a 50-day moving average of $73.65 and a 200-day moving average of $73.10.
Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.37%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $1.93 EPS. Perrigo’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts forecast that Perrigo will post $4.46 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its position in Perrigo by 2.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 339,902 shares of the company’s stock valued at $28,289,000 after buying an additional 9,617 shares during the last quarter. Teachers Advisors LLC boosted its position in Perrigo by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 175,090 shares of the company’s stock valued at $14,573,000 after buying an additional 11,079 shares during the last quarter. Macquarie Group Ltd. boosted its position in Perrigo by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,300 shares of the company’s stock valued at $8,597,000 after buying an additional 1,685 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Perrigo by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 123,597 shares of the company’s stock valued at $8,205,000 after buying an additional 3,792 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Perrigo by 10.8% in the first quarter. Bank of Montreal Can now owns 82,020 shares of the company’s stock valued at $5,445,000 after buying an additional 8,012 shares during the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.
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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