Perrigo (PRGO) Given a $107.00 Price Target at Cantor Fitzgerald

Perrigo (NYSE:PRGO) received a $107.00 price target from equities researchers at Cantor Fitzgerald in a report released on Monday, December 4th. The brokerage presently has a “buy” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 22.76% from the company’s previous close.

A number of other research analysts also recently commented on the stock. BidaskClub downgraded shares of Perrigo from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Deutsche Bank raised their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Perrigo in a report on Wednesday, September 13th. Jefferies Group set a $71.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, CIBC initiated coverage on shares of Perrigo in a report on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $92.13.

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

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

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

Large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its holdings in Perrigo by 29.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 229,115 shares of the company’s stock worth $19,395,000 after purchasing an additional 52,361 shares during the last quarter. Greenlight Capital Inc. raised its holdings in Perrigo by 14.8% during the 3rd quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock worth $245,572,000 after purchasing an additional 374,032 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Perrigo in the 3rd quarter valued at about $398,000. California Public Employees Retirement System increased its stake in shares of Perrigo by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 284,066 shares of the company’s stock valued at $24,046,000 after acquiring an additional 10,766 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Perrigo in the 3rd quarter valued at about $12,706,000. Institutional investors 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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