Deutsche Bank AG Boosts Perrigo Company (PRGO) Price Target to $95.00
Perrigo Company (NYSE:PRGO) had its price objective increased by Deutsche Bank AG from $88.00 to $95.00 in a research note published on Thursday morning. Deutsche Bank AG currently has a buy rating on the stock.
Several other equities research analysts have also recently commented on PRGO. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a sell rating to a neutral rating and upped their price target for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Jefferies Group LLC restated a hold rating and set a $71.00 price target (up previously from $69.00) on shares of Perrigo in a research note on Friday, August 11th. Royal Bank Of Canada restated a sell rating and set a $64.00 price target on shares of Perrigo in a research note on Wednesday. Stifel Nicolaus restated a hold rating on shares of Perrigo in a research note on Friday, August 11th. Finally, BidaskClub cut Perrigo from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $89.36.
Shares of Perrigo (PRGO) opened at 86.90 on Thursday. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14. The firm’s market cap is $12.39 billion. The stock’s 50 day moving average is $77.62 and its 200-day moving average is $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 Thomson Reuters’ consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that Perrigo will post $4.58 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date was Wednesday, August 23rd. Perrigo’s dividend payout ratio (DPR) is -3.51%.
In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total value of $47,370.40. Following the completion of the sale, the executive vice president now directly owns 2,724 shares in the company, valued at approximately $209,475.60. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock worth $581,320 in the last three months. 6.90% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Korea Investment CORP grew its holdings in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after purchasing an additional 781 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after purchasing an additional 176 shares during the last quarter. Johnson Financial Group Inc. grew its holdings in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after purchasing an additional 240 shares during the last quarter. Bessemer Group Inc. grew its holdings in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after purchasing an additional 2,040 shares during the last quarter. Finally, Global X Management Co. LLC grew its holdings in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after purchasing an additional 855 shares during the last quarter. 80.36% of the stock is currently owned by institutional investors.
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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