Published On: Mon, Sep 19th, 2016

Deutsche Bank AG Reaffirms “Buy” Rating for Perrigo Co. (PRGO)

Deutsche Bank AG reissued their buy rating on shares of Perrigo Co. (NYSE:PRGO) in a research note published on Tuesday. Deutsche Bank AG currently has a $105.00 target price on the stock.
A number of other brokerages have also issued reports on PRGO. B. Riley restated a neutral rating and issued a $101.00 target price on shares of Perrigo in a research note on Tuesday, June 28th. Royal Bank Of Canada restated a sector perform rating and issued a $109.00 target price on shares of Perrigo in a research note on Wednesday, May 25th. BTIG Research restated a neutral rating on shares of Perrigo in a research note on Friday, June 17th. Barclays PLC cut their target price on shares of Perrigo from $120.00 to $110.00 and set an overweight rating on the stock in a research note on Thursday, August 11th. Finally, Jefferies Group cut their target price on shares of Perrigo from $97.00 to $84.00 and set a hold rating on the stock in a research note on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $114.62.
Shares of Perrigo (NYSE:PRGO) opened at 93.30 on Tuesday. Perrigo has a 12 month low of $82.50 and a 12 month high of $183.64. The firm’s market cap is $13.37 billion. The company has a 50-day moving average of $90.75 and a 200-day moving average of $103.58.

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Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The firm earned $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Perrigo will post $7.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Friday, August 26th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 24th. Perrigo’s dividend payout ratio is currently -60.42%.
In related news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $88.28, for a total transaction of $184,946.60. Following the completion of the sale, the executive vice president now directly owns 16,292 shares of the company’s stock, valued at $1,438,257.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary K. Kunkle, Jr. sold 5,814 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $89.95, for a total transaction of $522,969.30. Following the sale, the director now directly owns 31,501 shares of the company’s stock, valued at $2,833,514.95. The disclosure for this sale can be found here. 4.47% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PRGO. Aperio Group LLC raised its stake in Perrigo by 49.5% in the first quarter. Aperio Group LLC now owns 26,238 shares of the company’s stock valued at $3,357,000 after buying an additional 8,685 shares in the last quarter. Mariner Wealth Advisors LLC raised its stake in Perrigo by 39.3% in the first quarter. Mariner Wealth Advisors LLC now owns 10,784 shares of the company’s stock valued at $1,380,000 after buying an additional 3,045 shares in the last quarter. I.G. Investment Management LTD. raised its stake in Perrigo by 3.3% in the second quarter. I.G. Investment Management LTD. now owns 70,420 shares of the company’s stock valued at $6,385,000 after buying an additional 2,256 shares in the last quarter. WASHINGTON TRUST Co raised its stake in Perrigo by 26.1% in the first quarter. WASHINGTON TRUST Co now owns 137,035 shares of the company’s stock valued at $17,531,000 after buying an additional 28,333 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Perrigo by 8.6% in the first quarter. M&T Bank Corp now owns 16,368 shares of the company’s stock valued at $2,095,000 after buying an additional 1,291 shares in the last quarter. 70.16% of the stock is owned by institutional investors and hedge funds.
Perrigo Company Profile

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