Perrigo Company plc’s (PRGO) Market Perform Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reaffirmed their market perform rating on shares of Perrigo Company plc (NYSE:PRGO) in a research note published on Friday, April 14th. The firm currently has a $67.00 price objective on the stock.

A number of other brokerages also recently commented on PRGO. Guggenheim reiterated a buy rating and issued a $125.00 target price on shares of Perrigo Company plc in a report on Monday, February 6th. Royal Bank of Canada reiterated a sector perform rating and issued a $85.00 target price (down from $92.00) on shares of Perrigo Company plc in a report on Tuesday, January 17th. Deutsche Bank AG reduced their target price on shares of Perrigo Company plc from $93.00 to $87.00 and set a buy rating for the company in a report on Tuesday, March 14th. Canaccord Genuity set a $86.00 target price on shares of Perrigo Company plc and gave the stock a buy rating in a report on Saturday, March 18th. Finally, Barclays PLC reduced their target price on shares of Perrigo Company plc from $110.00 to $100.00 and set an overweight rating for the company in a report on Monday, February 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Perrigo Company plc currently has an average rating of Hold and an average price target of $89.40.

Shares of Perrigo Company plc (NYSE:PRGO) traded up 0.48% on Friday, reaching $70.84. 1,756,948 shares of the company’s stock traded hands. Perrigo Company plc has a 12-month low of $65.47 and a 12-month high of $111.00. The stock has a 50-day moving average of $70.54 and a 200 day moving average of $77.60. The firm’s market cap is $10.16 billion.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Friday, May 26th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, May 24th. Perrigo Company plc’s dividend payout ratio is currently -5.53%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia increased its position in Perrigo Company plc by 2.5% in the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock valued at $214,000 after buying an additional 80 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of Perrigo Company plc by 2.6% in the first quarter. Janus Capital Management LLC now owns 98,304 shares of the company’s stock worth $6,527,000 after buying an additional 2,501 shares during the period. HighTower Advisors LLC increased its stake in shares of Perrigo Company plc by 271.7% in the first quarter. HighTower Advisors LLC now owns 35,775 shares of the company’s stock worth $2,384,000 after buying an additional 26,151 shares during the period. Blue Sky Asset Management LLC bought a new stake in shares of Perrigo Company plc during the first quarter worth about $1,047,000. Finally, Credit Suisse AG increased its stake in shares of Perrigo Company plc by 13.8% in the first quarter. Credit Suisse AG now owns 241,688 shares of the company’s stock worth $16,046,000 after buying an additional 29,375 shares during the period. 69.65% of the stock is owned by hedge funds and other 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.

5 Day Chart for NYSE:PRGO

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