Published On: Wed, Sep 21st, 2016

Perrigo Co. (PRGO) PT Set at $125.00 by Guggenheim

Guggenheim set a $125.00 target price on Perrigo Co. (NYSE:PRGO) in a report released on Thursday morning. The firm currently has a a buy rating on the stock.

A number of other equities analysts have also commented on the company. Bank of America Corp. reissued a sell rating and issued a $109.00 price objective on shares of Perrigo in a research note on Wednesday, June 15th. Vetr downgraded Perrigo from a strong-buy rating to a buy rating and set a $98.60 target price for the company. in a research report on Monday, August 15th. Deutsche Bank AG upgraded Perrigo from a hold rating to a buy rating and set a $115.00 target price for the company in a research report on Friday, July 22nd. Argus downgraded Perrigo from a buy rating to a hold rating in a research report on Monday, June 20th. Finally, Zacks Investment Research upgraded Perrigo from a hold rating to a buy rating and set a $104.00 target price for the company in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Perrigo currently has an average rating of Hold and a consensus price target of $113.37.
Shares of Perrigo (NYSE:PRGO) opened at 93.37 on Thursday. The firm’s market capitalization is $13.38 billion. Perrigo has a 12 month low of $82.50 and a 12 month high of $173.48. The firm’s 50-day moving average price is $91.06 and its 200-day moving average price is $102.39.

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Perrigo (NYSE:PRGO) last posted 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. The business earned $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. Perrigo’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, equities analysts anticipate that Perrigo will post $7.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Friday, August 26th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.58 annualized dividend and a dividend yield of 0.62%. Perrigo’s dividend payout ratio is currently -60.42%.
In related news, Director Herman Morris, Jr. sold 1,073 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total transaction of $97,600.08. Following the completion of the transaction, the director now directly owns 10,425 shares of the company’s stock, valued at $948,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $184,946.60. Following the transaction, the executive vice president now directly owns 16,292 shares of the company’s stock, valued at $1,438,257.76. The disclosure for this sale can be found here. Insiders own 4.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Amica Retiree Medical Trust bought a new position in shares of Perrigo during the second quarter valued at approximately $105,000. Balentine LLC boosted its position in shares of Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock valued at $134,000 after buying an additional 230 shares during the period. Advisor Group Inc. bought a new position in shares of Perrigo during the second quarter valued at approximately $139,000. Johnson Financial Group Inc. boosted its position in shares of Perrigo by 858.5% in the second quarter. Johnson Financial Group Inc. now owns 1,524 shares of the company’s stock valued at $139,000 after buying an additional 1,365 shares during the period. Finally, Hall Laurie J Trustee boosted its position in shares of Perrigo by 49.1% in the second quarter. Hall Laurie J Trustee now owns 1,670 shares of the company’s stock valued at $156,000 after buying an additional 550 shares during the period. 71.11% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company Profile

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