Perrigo Company (NYSE:PRGO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts have also commented on PRGO. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $79.00 in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $71.00 price target (up previously from $69.00) on shares of Perrigo in a research report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 price target on shares of Perrigo in a research report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Perrigo in a research report on Friday, August 11th. Finally, Cantor Fitzgerald raised their price target on Perrigo from $93.00 to $107.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Perrigo presently has a consensus rating of “Hold” and an average price target of $89.36.

Perrigo (PRGO) opened at 86.90 on Friday. Perrigo has a one year low of $63.68 and a one year high of $99.14. The firm’s market cap is $12.39 billion. The stock has a 50 day moving average price of $77.62 and a 200-day moving average price of $73.23.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. Analysts predict that Perrigo will post $4.58 EPS for the current fiscal year.

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In other news, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the transaction, the executive vice president now directly owns 10,118 shares in the company, valued at approximately $905,459.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of Perrigo stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the transaction, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The disclosure for this sale can be found here. Insiders have sold a total of 6,894 shares of company stock worth $581,320 in the last ninety days. Insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Perrigo by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after acquiring an additional 299,328 shares during the period. BlackRock Inc. boosted its stake in shares of Perrigo by 3,825.1% during the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after acquiring an additional 11,844,832 shares during the period. Franklin Resources Inc. boosted its stake in shares of Perrigo by 117.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after acquiring an additional 4,383,903 shares during the period. State Street Corp boosted its stake in shares of Perrigo by 1.7% during the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after acquiring an additional 112,287 shares during the period. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Perrigo by 6.8% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock worth $195,298,000 after acquiring an additional 165,232 shares during the period. Institutional investors own 80.36% of the company’s stock.

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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