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

Cantor Fitzgerald set a $107.00 target price on Perrigo (NYSE:PRGO) in a report issued on Friday morning. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on PRGO. Jefferies Group set a $71.00 price target on shares of Perrigo and gave the company a hold rating in a research report on Sunday, October 29th. Argus upgraded shares of Perrigo from a hold rating to a buy rating and set a $93.00 price target for the company in a research report on Friday, December 8th. UBS Group restated a buy rating and issued a $98.00 price target (up from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. Canaccord Genuity set a $100.00 price target on shares of Perrigo and gave the company a buy rating in a research report on Monday, January 1st. Finally, BidaskClub upgraded shares of Perrigo from a sell rating to a hold rating in a research report on Saturday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Perrigo presently has an average rating of Hold and an average target price of $92.00.

Shares of Perrigo (NYSE PRGO) traded down $0.19 during midday trading on Friday, reaching $91.80. 559,679 shares of the company’s stock traded hands, compared to its average volume of 872,168. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. Perrigo has a 1 year low of $63.68 and a 1 year high of $92.75. The firm has a market cap of $12,955.94, a PE ratio of -10.02, a P/E/G ratio of 1.94 and a beta of 0.70.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was down 2.0% on a year-over-year basis. analysts expect that Perrigo will post 4.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is presently -6.99%.

In other news, VP Todd W. Kingma sold 1,500 shares of the 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 completion of the sale, the vice president now directly owns 19,565 shares in the company, valued at $1,731,893.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Wesolowski sold 388 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total transaction of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares in the company, valued at $21,625.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,051 shares of company stock valued at $355,370. 6.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. State of Tennessee Treasury Department boosted its stake in Perrigo by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock worth $2,961,000 after acquiring an additional 103 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Perrigo by 14.3% during the second quarter. JPMorgan Chase & Co. now owns 83,822 shares of the company’s stock worth $6,331,000 after acquiring an additional 10,461 shares in the last quarter. Engineers Gate Manager LP bought a new position in Perrigo during the second quarter worth $712,000. Commonwealth Bank of Australia boosted its stake in Perrigo by 13.8% during the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in Perrigo during the second quarter worth $1,277,000. 83.29% of the stock is currently owned by institutional investors and hedge funds.

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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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