Wells Fargo Lowers Perrigo (PRGO) Price Target to $84.00
Perrigo (NYSE:PRGO) had its price objective decreased by Wells Fargo from $90.00 to $84.00 in a research note published on Monday morning, Marketbeat reports. Wells Fargo currently has a market perform rating on the stock.
A number of other equities research analysts have also recently commented on the company. Oppenheimer set a $98.00 target price on Perrigo and gave the stock a buy rating in a research note on Friday, May 11th. ValuEngine cut Perrigo from a hold rating to a sell rating in a research note on Wednesday, May 9th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a buy rating in a research note on Tuesday, May 8th. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a buy rating in a research note on Monday, April 23rd. Finally, JPMorgan Chase reiterated a neutral rating and set a $83.00 target price (up from $82.00) on shares of Perrigo in a research note on Monday, March 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $93.06.
Shares of Perrigo opened at $75.86 on Monday, Marketbeat reports. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.77 and a beta of 0.77. Perrigo has a 1-year low of $75.66 and a 1-year high of $76.20. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 0.53.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Friday, June 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, May 31st. Perrigo’s dividend payout ratio is currently 15.42%.
In related news, Director Jeffrey C. Smith bought 50,000 shares of Perrigo stock in a transaction on Thursday, May 17th. The stock was acquired at an average price of $75.89 per share, with a total value of $3,794,500.00. Following the acquisition, the director now directly owns 528 shares of the company’s stock, valued at $40,069.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Uwe Roehrhoff bought 7,500 shares of Perrigo stock in a transaction on Monday, March 5th. The shares were bought at an average cost of $81.85 per share, with a total value of $613,875.00. Following the acquisition, the chief executive officer now directly owns 4,900 shares in the company, valued at $401,065. The disclosure for this purchase can be found here. Insiders purchased a total of 307,500 shares of company stock worth $23,210,875 over the last 90 days. 6.90% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Dupont Capital Management Corp purchased a new position in Perrigo during the 4th quarter valued at about $104,000. Twin Tree Management LP grew its holdings in Perrigo by 271.0% during the 1st quarter. Twin Tree Management LP now owns 2,223 shares of the company’s stock valued at $185,000 after buying an additional 3,523 shares in the last quarter. ARP Americas LP purchased a new position in Perrigo during the 4th quarter valued at about $212,000. Quantitative Systematic Strategies LLC purchased a new position in Perrigo during the 4th quarter valued at about $213,000. Finally, Investors Research Corp purchased a new position in Perrigo during the 4th quarter valued at about $214,000. 79.52% of the stock is owned by institutional investors and hedge funds.
Perrigo Company Profile
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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