Several other equities analysts also recently commented on PRGO. Royal Bank Of Canada raised shares of Perrigo from an underperform rating to a sector perform rating and upped their price objective for the company from $64.00 to $86.00 in a research note on Friday, November 10th. Jefferies Group set a $71.00 price objective on shares of Perrigo and gave the company a hold rating in a research note on Sunday, October 29th. UBS reissued a buy rating and issued a $98.00 price target (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. CIBC started coverage on shares of Perrigo in a research note on Thursday, September 7th. They issued an outperform rating and a $88.00 price target for the company. Finally, Deutsche Bank increased their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a buy rating in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $92.13.
Shares of Perrigo (PRGO) traded up $2.73 during trading hours on Friday, reaching $85.60. 963,600 shares of the company traded hands, compared to its average volume of 1,686,750. Perrigo has a one year low of $63.68 and a one year high of $91.73. The stock has a market capitalization of $12,060.00, a price-to-earnings ratio of 17.47, a PEG ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 30th. Perrigo’s payout ratio is -6.99%.
In other news, EVP John Wesolowski sold 388 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total transaction of $33,833.60. Following the sale, the executive vice president now owns 248 shares in the company, valued at $21,625.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the sale, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,196 shares of company stock worth $374,137. Corporate insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Korea Investment CORP grew its holdings in shares of Perrigo by 142.0% during the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after purchasing an additional 2,040 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Perrigo in the third quarter worth approximately $217,000. Finally, Conning Inc. purchased a new stake in Perrigo in the third quarter worth approximately $219,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
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Perrigo Company Profile
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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