PRGO has been the topic of several other research reports. UBS AG reissued a buy rating and issued a $98.00 target price (up previously from $84.00) on shares of Perrigo in a report on Thursday, October 5th. CIBC started coverage on Perrigo in a report on Thursday, September 7th. They issued an outperform rating and a $88.00 target price on the stock. Deutsche Bank AG increased their target price on Perrigo from $88.00 to $95.00 and gave the company a buy rating in a report on Thursday, September 14th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the company a buy rating in a report on Friday, October 20th. Finally, Royal Bank Of Canada increased their target price on Perrigo from $60.00 to $64.00 and gave the company an underperform rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $88.50.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share.
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In related news, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas Farrington sold 616 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the transaction, the executive vice president now directly owns 2,724 shares in the company, valued at approximately $209,475.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,894 shares of company stock worth $581,320. Corporate insiders own 6.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 worth $101,000 after buying an additional 781 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Perrigo by 13.8% during the second 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. Bessemer Group Inc. grew its holdings in shares of Perrigo by 1,046.2% during the second 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. Conning Inc. purchased a new position in shares of Perrigo during the third quarter worth about $219,000. Finally, SOL Capital Management CO purchased a new position in shares of Perrigo during the third quarter worth about $227,000. 82.30% of the stock is currently owned by hedge funds and other 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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