Canaccord Genuity Reiterates “$105.00” Price Target for Perrigo (PRGO)

Canaccord Genuity set a $105.00 price objective on Perrigo (NYSE:PRGO) in a research report report published on Monday morning. The firm currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a buy rating in a research report on Thursday, December 28th. Oppenheimer set a $98.00 price objective on shares of Perrigo and gave the company a buy rating in a research report on Monday, March 5th. Finally, Berenberg Bank initiated coverage on shares of Perrigo in a research report on Thursday, February 1st. They issued a buy rating and a $117.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $91.88.

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Shares of PRGO opened at $82.73 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.96. The company has a market cap of $11,615.96, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. Perrigo has a 12-month low of $63.68 and a 12-month high of $95.93.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, March 1st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Perrigo had a net margin of 2.42% and a return on equity of 11.54%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. analysts anticipate that Perrigo will post 5.23 earnings per share for the current year.

In other Perrigo news, CEO Uwe Roehrhoff bought 7,500 shares of Perrigo stock in a transaction on Monday, March 5th. The stock was bought at an average price of $81.85 per share, with a total value of $613,875.00. Following the completion of the acquisition, the chief executive officer now owns 4,900 shares in the company, valued at $401,065. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PRGO. Russell Investments Group Ltd. lifted its holdings in Perrigo by 38.0% in the third quarter. Russell Investments Group Ltd. now owns 18,889 shares of the company’s stock valued at $1,599,000 after acquiring an additional 5,203 shares during the period. Wells Fargo & Company MN lifted its holdings in Perrigo by 17.2% in the third quarter. Wells Fargo & Company MN now owns 157,409 shares of the company’s stock valued at $13,324,000 after acquiring an additional 23,068 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Perrigo by 40.8% in the third quarter. Dimensional Fund Advisors LP now owns 622,690 shares of the company’s stock valued at $52,699,000 after acquiring an additional 180,348 shares during the period. Allianz Asset Management GmbH acquired a new stake in Perrigo in the third quarter valued at $217,000. Finally, Highbridge Capital Management LLC acquired a new stake in Perrigo in the third quarter valued at $442,000. 79.16% of the stock is owned by institutional investors.

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About Perrigo

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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