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.
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.
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.
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