Cantor Fitzgerald Analysts Give Perrigo (PRGO) a $107.00 Price Target

Perrigo (NYSE:PRGO) has been assigned a $107.00 price objective by equities research analysts at Cantor Fitzgerald in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 24.16% from the stock’s current price.

PRGO has been the topic of several other research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Perrigo in a research report on Wednesday, January 17th. Berenberg Bank assumed coverage on Perrigo in a research report on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective on the stock. Leerink Swann assumed coverage on Perrigo in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price objective on the stock. Wells Fargo & Co upped their price objective on Perrigo to $90.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Finally, Royal Bank of Canada raised Perrigo from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $64.00 to $86.00 in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $93.47.

Perrigo (NYSE:PRGO) traded up $1.74 during trading hours on Friday, reaching $86.18. The company had a trading volume of 621,763 shares, compared to its average volume of 951,577. Perrigo has a one year low of $63.68 and a one year high of $95.93. The stock has a market cap of $11,890.00, a price-to-earnings ratio of -9.29, a PEG ratio of 1.86 and a beta of 0.66. 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 (NYSE:PRGO) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. analysts anticipate that Perrigo will post 4.89 earnings per share for the current fiscal year.

In other news, EVP John Wesolowski sold 450 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total transaction of $37,390.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $88.52, for a total value of $132,780.00. Following the transaction, the vice president now directly owns 19,565 shares in the company, valued at approximately $1,731,893.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,051 shares of company stock worth $355,370 in the last three months. Corporate insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sentry Investment Management LLC grew its position in shares of Perrigo by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 11,028 shares of the company’s stock worth $833,000 after buying an additional 117 shares in the last quarter. Bank of Nova Scotia boosted its position in Perrigo by 7.8% during the second quarter. Bank of Nova Scotia now owns 3,469 shares of the company’s stock valued at $262,000 after purchasing an additional 250 shares in the last quarter. QS Investors LLC boosted its position in Perrigo by 3.8% during the second quarter. QS Investors LLC now owns 6,875 shares of the company’s stock valued at $519,000 after purchasing an additional 253 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Perrigo by 8.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,741 shares of the company’s stock valued at $675,000 after purchasing an additional 595 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in Perrigo by 5.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 12,700 shares of the company’s stock valued at $1,107,000 after purchasing an additional 600 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors and hedge funds.

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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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