Perrigo Company plc (PRGO) Upgraded at BidaskClub

BidaskClub upgraded shares of Perrigo Company plc (NYSE:PRGO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also commented on the company. Royal Bank Of Canada set a $60.00 price target on Perrigo Company plc and gave the stock a sell rating in a research note on Sunday, July 16th. Goldman Sachs Group, Inc. (The) restated a sell rating and set a $68.00 price target on shares of Perrigo Company plc in a research note on Wednesday, May 31st. Deutsche Bank AG restated a buy rating and set a $88.00 price target (up from $86.00) on shares of Perrigo Company plc in a research note on Monday, July 17th. Canaccord Genuity set a $86.00 price target on Perrigo Company plc and gave the stock a buy rating in a research note on Monday, May 22nd. Finally, Barclays PLC restated an overweight rating and set a $85.00 price target (down from $100.00) on shares of Perrigo Company plc in a research note on Thursday, June 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Perrigo Company plc has an average rating of Hold and an average target price of $88.00.

Perrigo Company plc (PRGO) opened at 89.01 on Friday. The stock’s market capitalization is $12.69 billion. Perrigo Company plc has a one year low of $63.68 and a one year high of $99.14. The company’s 50-day moving average price is $76.16 and its 200-day moving average price is $72.96.

Perrigo Company plc (NYSE:PRGO) last announced its quarterly earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Perrigo Company plc had a positive return on equity of 11.55% and a negative net margin of 51.04%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. Equities research analysts predict that Perrigo Company plc will post $4.58 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Wednesday, August 23rd. Perrigo Company plc’s dividend payout ratio is currently -3.51%.

In related news, EVP Thomas Farrington sold 865 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $78.40, for a total value of $67,816.00. Following the completion of the transaction, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sharon Kochan sold 318 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the transaction, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The disclosure for this sale can be found here. Insiders sold 3,299 shares of company stock valued at $259,604 in the last three months. 6.90% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Korea Investment CORP lifted its holdings in Perrigo Company plc by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in Perrigo Company plc by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in Perrigo Company plc by 15.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after buying an additional 240 shares during the last quarter. Global X Management Co. LLC lifted its holdings in Perrigo Company plc by 56.4% during the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Perrigo Company plc by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after buying an additional 2,040 shares during the last quarter. 80.36% of the stock is currently owned by institutional investors.

About Perrigo Company plc

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 Company plc (NYSE:PRGO)

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