A number of other analysts have also recently commented on PRGO. Jefferies Group LLC reiterated a hold rating and issued a $81.00 target price on shares of Perrigo in a research note on Friday, November 10th. Goldman Sachs Group, Inc. (The) upgraded shares of Perrigo from a sell rating to a neutral rating and lifted their target price for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Royal Bank Of Canada upgraded shares of Perrigo from an underperform rating to a sector perform rating and lifted their target price for the stock from $64.00 to $86.00 in a research note on Friday, November 10th. Stifel Nicolaus reiterated a hold rating on shares of Perrigo in a research note on Friday, August 11th. Finally, Wells Fargo & Company lifted their target price on shares of Perrigo to $90.00 and gave the stock a market perform rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $91.50.
Perrigo (PRGO) traded down $0.20 during mid-day trading on Wednesday, reaching $85.80. 1,022,900 shares of the company were exchanged, compared to its average volume of 1,745,222. The firm has a market cap of $12,080.00, a PE ratio of 17.55, a PEG ratio of 1.85 and a beta of 0.59. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54. Perrigo has a one year low of $63.68 and a one year high of $91.73.
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The company also recently announced 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is -6.99%.
In other news, EVP Jeffrey Needham sold 3,595 shares of Perrigo 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 completion of the transaction, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sharon Kochan sold 318 shares of Perrigo stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the transaction, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at $832,394.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,894 shares of company stock valued at $581,320. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. Korea Investment CORP increased its holdings in Perrigo by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after acquiring an additional 781 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Perrigo by 13.8% in the 2nd 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. Bessemer Group Inc. increased its holdings in Perrigo by 1,046.2% in the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after acquiring an additional 2,040 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Perrigo in the 3rd quarter worth $217,000. Finally, Conning Inc. purchased a new stake in Perrigo in the 3rd quarter worth $219,000. 82.47% of the stock is owned by institutional investors.
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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