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.

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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