Perrigo Company (NYSE:PRGO) has received an average recommendation of “Hold” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $85.77.

A number of brokerages have weighed in on PRGO. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and set a $76.84 price target for the company in a research report on Friday. Royal Bank Of Canada boosted their price target on Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a research report on Friday. BidaskClub cut Perrigo from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $66.37 price target (down previously from $80.00) on shares of Perrigo in a research report on Thursday. Finally, Cantor Fitzgerald set a $93.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Thursday.

Several institutional investors have recently bought and sold shares of the company. Korea Investment CORP raised its position in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia raised its position in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Johnson Financial Group Inc. raised its position in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after buying an additional 240 shares during the last quarter. Bessemer Group Inc. raised its position in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after buying an additional 2,040 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.

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Shares of Perrigo (PRGO) traded up 2.49% during midday trading on Friday, reaching $78.75. The company’s stock had a trading volume of 2,292,795 shares. The stock’s market capitalization is $11.29 billion. The stock has a 50-day moving average price of $73.48 and a 200 day moving average price of $73.02. 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, beating analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Equities analysts forecast that Perrigo will post $4.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. Perrigo’s payout ratio is presently -3.90%.

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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