Oppenheimer Holdings, Inc. started coverage on shares of Perrigo Company (NYSE:PRGO) in a report released on Monday. The firm issued a buy rating and a $88.00 price objective on the stock.

A number of other analysts have also commented on the company. Royal Bank Of Canada set a $60.00 target price on Perrigo and gave the company a sell rating in a research report on Sunday, July 16th. Jefferies Group LLC reiterated a hold rating and issued a $71.00 price target (up previously from $69.00) on shares of Perrigo in a report on Friday, August 11th. Wells Fargo & Company reiterated a market perform rating and issued a $77.00 price target on shares of Perrigo in a report on Tuesday, August 15th. BidaskClub raised Perrigo from a strong sell rating to a sell rating in a research note on Saturday, September 9th. Finally, Cantor Fitzgerald set a $85.00 price objective on Perrigo and gave the company a buy rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Perrigo has an average rating of Hold and an average target price of $89.36.

Shares of Perrigo (NYSE PRGO) opened at 86.36 on Monday. The company has a 50-day moving average of $81.88 and a 200 day moving average of $74.32. Perrigo has a 52-week low of $63.68 and a 52-week high of $97.17. The company’s market capitalization is $12.32 billion.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ 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 the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts predict that Perrigo will post $4.58 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a $0.16 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.74%. Perrigo’s dividend payout ratio (DPR) is -3.51%.

In other news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at $905,459.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas Farrington sold 865 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at $225,008. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,894 shares of company stock worth $581,320. Insiders own 6.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Korea Investment CORP boosted its stake 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 acquiring an additional 781 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after acquiring an additional 176 shares during the period. Johnson Financial Group Inc. grew its position in shares of Perrigo by 15.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after acquiring an additional 240 shares during the period. Global X Management Co. LLC grew its position in shares of Perrigo by 56.4% during the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after acquiring an additional 855 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after acquiring an additional 2,040 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

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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