Deutsche Bank AG reissued their buy rating on shares of Perrigo Company (NYSE:PRGO) in a report published on Monday. The brokerage currently has a $88.00 price target on the stock, up from their prior price target of $86.00.
A number of other equities research analysts have also issued reports on the company. BidaskClub raised Perrigo from a sell rating to a hold rating in a research report on Tuesday, June 20th. ValuEngine lowered Perrigo from a buy rating to a hold rating in a research report on Friday, June 2nd. Royal Bank Of Canada reissued a hold rating and set a $66.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Cantor Fitzgerald began coverage on Perrigo in a report on Friday, June 16th. They set an overweight rating and a $85.00 target price on the stock. Finally, Jefferies Group LLC reissued a hold rating and set a $71.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $86.16.
Shares of Perrigo (NYSE:PRGO) opened at 72.65 on Monday. The firm has a 50-day moving average of $73.30 and a 200-day moving average of $73.81. Perrigo has a one year low of $65.47 and a one year high of $99.14. The firm’s market capitalization is $10.42 billion.
Perrigo (NYSE:PRGO) last issued its earnings results on Tuesday, May 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.06. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $1.32 earnings per share. The company’s revenue was down 11.4% compared to the same quarter last year. On average, equities analysts predict that Perrigo will post $4.28 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Perrigo by 4.5% in the first quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock worth $967,619,000 after buying an additional 633,343 shares during the last quarter. BlackRock Inc. boosted its position in shares of Perrigo by 3,825.1% in the first quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after buying an additional 11,844,832 shares during the last quarter. State Street Corp boosted its position in shares of Perrigo by 8.5% in the first quarter. State Street Corp now owns 6,644,799 shares of the company’s stock worth $441,153,000 after buying an additional 520,967 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its position in shares of Perrigo by 65.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after buying an additional 1,195,526 shares during the last quarter. Finally, Parnassus Investments CA boosted its position in shares of Perrigo by 44.0% in the first quarter. Parnassus Investments CA now owns 2,794,000 shares of the company’s stock worth $185,494,000 after buying an additional 854,000 shares during the last quarter. 76.50% of the stock is owned by institutional investors.
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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