Perrigo Company (PRGO) Given a $93.00 Price Target at Cantor Fitzgerald
Perrigo Company (NYSE:PRGO) has been given a $93.00 target price by equities researchers at Cantor Fitzgerald in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 40.12% from the company’s previous close.
PRGO has been the subject of several other reports. Wells Fargo & Company reiterated a “market perform” rating and set a $67.00 price objective on shares of Perrigo in a research note on Friday, April 14th. Deutsche Bank AG dropped their price objective on Perrigo from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. B. Riley reiterated a “neutral” rating and set a $67.00 price objective on shares of Perrigo in a research note on Saturday, April 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $71.00 price objective on shares of Perrigo in a research note on Wednesday, May 24th. Finally, Canaccord Genuity set a $86.00 price objective on Perrigo and gave the stock a “buy” rating in a research note on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $84.60.
Shares of Perrigo (NYSE:PRGO) traded up 16.36% during trading on Thursday, hitting $77.23. 8,584,425 shares of the stock traded hands. The firm’s 50-day moving average price is $73.38 and its 200-day moving average price is $72.99. The company’s market cap is $11.07 billion. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Perrigo will post $4.28 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. boosted its position in Perrigo by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,824 shares of the company’s stock valued at $237,000 after buying an additional 154 shares in the last quarter. Nationwide Fund Advisors boosted its position in Perrigo by 2.3% in the first quarter. Nationwide Fund Advisors now owns 54,999 shares of the company’s stock valued at $3,651,000 after buying an additional 1,214 shares in the last quarter. Northern Capital Management LLC purchased a new position in Perrigo during the first quarter valued at about $1,334,000. Retirement Systems of Alabama boosted its position in Perrigo by 2.0% in the first quarter. Retirement Systems of Alabama now owns 69,305 shares of the company’s stock valued at $4,601,000 after buying an additional 1,348 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Perrigo during the first quarter valued at about $214,000. Institutional investors and hedge funds own 76.38% 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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