Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald restated a buy rating on shares of Perrigo in a research report on Monday, August 21st. Canaccord Genuity restated a buy rating and set a $88.00 target price (up from $80.00) on shares of Perrigo in a research report on Thursday, August 10th. Deutsche Bank raised their target price on Perrigo from $88.00 to $95.00 and gave the company a buy rating in a research report on Thursday, September 14th. Oppenheimer started coverage on Perrigo in a research report on Monday, October 2nd. They set a buy rating and a $88.00 target price on the stock. Finally, UBS restated a buy rating and set a $98.00 target price (up from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. One equities 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 stock. Perrigo currently has an average rating of Hold and a consensus price target of $92.07.
Shares of Perrigo (NYSE PRGO) opened at $82.38 on Monday. Perrigo has a 12-month low of $63.68 and a 12-month high of $91.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. The company has a market capitalization of $12,154.55, a PE ratio of 17.61, a PEG ratio of 1.84 and a beta of 0.70.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s payout ratio is -6.99%.
In other Perrigo news, EVP John Wesolowski sold 388 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total value of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares of the company’s stock, valued at approximately $21,625.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was 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 in the company, valued at $905,459.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,196 shares of company stock worth $374,137. 6.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGO. Korea Investment CORP lifted its stake 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 purchasing an additional 781 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after buying an additional 176 shares during the period. Bessemer Group Inc. raised its position in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after buying an additional 2,040 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Perrigo during the 3rd quarter valued at approximately $217,000. Finally, Conning Inc. purchased a new stake in shares of Perrigo during the 3rd quarter valued at approximately $219,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.
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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