Perrigo (NYSE:PRGO) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday.
A number of other analysts also recently commented on PRGO. Canaccord Genuity set a $90.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Perrigo in a report on Friday, June 22nd. Deutsche Bank downgraded shares of Perrigo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $93.00 to $78.00 in a report on Friday, August 10th. Royal Bank of Canada decreased their price objective on shares of Perrigo from $89.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $73.00 price objective on shares of Perrigo in a report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $89.06.
Shares of Perrigo stock traded up $2.53 on Monday, reaching $75.49. 2,324,300 shares of the stock were exchanged, compared to its average volume of 1,206,458. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.74 and a beta of 0.84. Perrigo has a 1-year low of $67.53 and a 1-year high of $95.93. The company has a quick ratio of 1.23, a current ratio of 1.81 and a debt-to-equity ratio of 0.52.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, August 9th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. equities research analysts anticipate that Perrigo will post 4.95 EPS for the current year.
In other Perrigo news, EVP Svend Andersen purchased 7,200 shares of Perrigo stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $69.43 per share, with a total value of $499,896.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new stake in shares of Perrigo in the second quarter valued at about $110,000. Dupont Capital Management Corp lifted its stake in shares of Perrigo by 63.8% during the second quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock valued at $124,000 after buying an additional 664 shares during the period. Twin Tree Management LP lifted its stake in shares of Perrigo by 271.0% during the first 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 during the period. Allianz Asset Management GmbH purchased a new position in shares of Perrigo during the first quarter valued at approximately $205,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Perrigo during the first quarter valued at approximately $208,000. 80.89% of the stock is currently owned by institutional investors.
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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