Perrigo (PRGO) Given New $93.00 Price Target at Barclays

Perrigo (NYSE:PRGO) had its price objective lifted by Barclays to $93.00 in a research note published on Monday, December 4th. Barclays currently has an overweight rating on the stock.

PRGO has been the subject of several other research reports. Royal Bank of Canada raised Perrigo from an underperform rating to a sector perform rating and lifted their price target for the stock from $64.00 to $86.00 in a research report on Friday, November 10th. UBS Group reaffirmed a buy rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. Jefferies Group set a $71.00 price target on Perrigo and gave the stock a hold rating in a research report on Sunday, October 29th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the stock a buy rating in a report on Wednesday, November 15th. Finally, CIBC started coverage on Perrigo in a report on Thursday, September 7th. They issued an outperform rating and a $88.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Perrigo presently has an average rating of Hold and a consensus price target of $92.13.

Shares of Perrigo (NYSE PRGO) traded down $0.11 during trading on Monday, reaching $87.16. The company’s stock had a trading volume of 442,315 shares, compared to its average volume of 1,047,461. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The stock has a market capitalization of $12,291.17, a price-to-earnings ratio of -9.52, a P/E/G ratio of 1.86 and a beta of 0.70. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $91.73.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.28. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. equities analysts expect that Perrigo will post 4.88 EPS for the current year.

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

In other Perrigo news, EVP John Wesolowski sold 450 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $83.09, for a total transaction of $37,390.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the sale, the vice president now owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The disclosure for this sale can be found here. Insiders sold a total of 2,551 shares of company stock valued at $222,590 over the last quarter. 6.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Allen Investment Management LLC lifted its position in shares of Perrigo by 7.1% during the 2nd quarter. Allen Investment Management LLC now owns 7,143 shares of the company’s stock valued at $539,000 after buying an additional 473 shares in the last quarter. State Street Corp lifted its position in shares of Perrigo by 1.7% during the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after buying an additional 112,287 shares in the last quarter. Sei Investments Co. lifted its position in shares of Perrigo by 7.5% during the 3rd quarter. Sei Investments Co. now owns 131,284 shares of the company’s stock valued at $11,114,000 after buying an additional 9,192 shares in the last quarter. Andra AP fonden lifted its position in shares of Perrigo by 9.9% during the 3rd quarter. Andra AP fonden now owns 16,700 shares of the company’s stock valued at $1,414,000 after buying an additional 1,500 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Perrigo during the 3rd quarter valued at about $398,000. Institutional investors and hedge funds own 83.29% of the company’s stock.

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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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