Perrigo Company (PRGO) Given “Hold” Rating at Stifel Nicolaus
Perrigo Company (NYSE:PRGO)‘s stock had its “hold” rating restated by Stifel Nicolaus in a report issued on Friday.
A number of other research firms have also recently weighed in on PRGO. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and increased their price target for the stock from $66.00 to $79.00 in a report on Friday. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 price target on shares of Perrigo in a report on Wednesday, May 24th. Deutsche Bank AG reiterated a “buy” rating and set a $88.00 price target (up from $86.00) on shares of Perrigo in a report on Monday, July 17th. Canaccord Genuity set a $86.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, Cantor Fitzgerald initiated coverage on Perrigo in a report on Friday, June 16th. They set an “overweight” rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Perrigo presently has a consensus rating of “Hold” and a consensus target price of $85.31.
Perrigo (NYSE PRGO) opened at 78.49 on Friday. Perrigo has a 1-year low of $63.68 and a 1-year high of $99.14. The firm’s 50-day moving average is $73.59 and its 200 day moving average is $73.05. The stock’s market capitalization is $11.26 billion.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Perrigo had a positive return on equity of 11.37% and a negative net margin of 51.04%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $1.93 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts anticipate that Perrigo will post $4.32 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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. 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. Finally, 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. 76.38% of the stock is currently owned by institutional investors and hedge funds.
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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