Perrigo Company (PRGO) Given a $107.00 Price Target at Cantor Fitzgerald

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

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.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.28. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. Perrigo’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. sell-side analysts anticipate that Perrigo will post 4.89 earnings per share for the current year.

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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.

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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