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

Cantor Fitzgerald set a $107.00 price target on Perrigo (NYSE:PRGO) in a research note issued to investors on Sunday. The firm currently has a buy rating on the stock.

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.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. equities analysts predict that Perrigo will post 4.88 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Perrigo (NYSE:PRGO)

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