Perrigo Company (NYSE:PRGO) Stock Rating Reaffirmed by Deutsche Bank AG

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.

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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