UBS AG restated their buy rating on shares of Perrigo Company (NYSE:PRGO) in a research note published on Thursday morning, 99wallstreet.com reports. The firm currently has a $98.00 target price on the stock, up from their prior target price of $84.00.

Several other research analysts have also issued reports 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. Deutsche Bank AG restated a buy rating and set a $88.00 target price (up previously from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Cantor Fitzgerald boosted their target price on Perrigo from $93.00 to $107.00 and gave the company an overweight rating in a research report on Tuesday, September 12th. Canaccord Genuity restated a buy rating and set a $100.00 target price (up previously from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Finally, CIBC started coverage on Perrigo in a research report on Thursday, September 7th. They set an outperform rating and a $88.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $88.50.

Perrigo (NYSE:PRGO) traded down 0.47% during trading on Thursday, hitting $86.82. The stock had a trading volume of 932,023 shares. Perrigo has a 52-week low of $63.68 and a 52-week high of $92.97. The firm’s market cap is $12.38 billion. The company has a 50-day moving average of $82.88 and a 200 day moving average of $74.75.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that Perrigo will post $4.58 earnings per share for the current fiscal year.

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

In related news, EVP Thomas Farrington sold 616 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 2,724 shares of the company’s stock, valued at $209,475.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Needham sold 3,595 shares of the business’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 transaction 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 approximately $905,459.82. 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. 6.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Korea Investment CORP raised its stake 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 in the last quarter. Commonwealth Bank of Australia raised its stake 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 in the last quarter. Johnson Financial Group Inc. raised its stake 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 in the last quarter. Bessemer Group Inc. raised its stake 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 in the last quarter. Finally, Global X Management Co. LLC raised its stake 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 in the last quarter. 82.44% of the stock is 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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