Royal Bank Of Canada upgraded shares of Perrigo Company (NYSE:PRGO) from an underperform rating to a sector perform rating in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage currently has $86.00 price target on the stock, up from their previous price target of $64.00.

Several other analysts also recently issued reports on PRGO. Cantor Fitzgerald reaffirmed a buy rating and issued a $107.00 price target on shares of Perrigo in a report on Thursday. Goldman Sachs Group, Inc. (The) raised shares of Perrigo from a sell rating to a neutral rating and upped their price objective for the company from $66.00 to $79.00 in a research note on Friday, August 11th. Jefferies Group LLC reissued a hold rating and set a $71.00 price objective (up previously from $69.00) on shares of Perrigo in a research note on Friday, August 11th. Stifel Nicolaus reissued a hold rating on shares of Perrigo in a research note on Friday, August 11th. Finally, BidaskClub downgraded shares of Perrigo from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $91.50.

Shares of Perrigo (PRGO) traded down $0.29 during midday trading on Friday, hitting $87.70. 1,406,400 shares of the company’s stock traded hands, compared to its average volume of 1,747,689. Perrigo has a 12 month low of $63.68 and a 12 month high of $91.95. The stock has a market capitalization of $12,351.73, a P/E ratio of 17.90, a PEG ratio of 1.89 and a beta of 0.69. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.28. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. equities research analysts expect that Perrigo will post 4.9 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, November 30th. Perrigo’s payout ratio is currently -6.99%.

In other news, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sharon Kochan sold 1,500 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $79.03, for a total transaction of $118,545.00. Following the completion of the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at approximately $817,881.47. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock valued at $581,320 in the last three months. Company insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Perrigo by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after acquiring an additional 299,328 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after buying an additional 4,383,903 shares during the last quarter. State Street Corp lifted its position in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after buying an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC lifted its position in shares of Perrigo by 6.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock worth $195,298,000 after buying an additional 165,232 shares during the last quarter. Finally, Parnassus Investments CA lifted its position in shares of Perrigo by 7.1% in the 3rd quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock worth $191,055,000 after buying an additional 150,000 shares during the last quarter. Hedge funds and other institutional investors own 82.47% 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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