Perrigo Company Receives a Sell from RBC Capital

Author

13 August, 2017

Perrigo Company plc Ordinary Shares (NYSE:PRGO) has declined 23.00% since August 10, 2016 and is downtrending. FineMark National Bank & Trust's holdings in Perrigo were worth $231,000 at the end of the most recent reporting period.

A number of other research firms have also recently weighed in on PRGO. Principal Financial Group Inc now owns 202,937 shares worth $15,326,000. Crawford Investment Counsel Inc now controls 349,181 shares with a value of $26,370,000.

Moon Capital Management Llc increased its stake in Perrigo Co Pcl Fus Shares (PRGO) by 141.96% based on its latest 2016Q4 regulatory filing with the SEC. Teachers Advisors LLC now owns 175,090 shares of the company's stock worth $14,573,000 after buying an additional 11,079 shares during the period. Commonwealth Bank of Australia increased its position in shares of Perrigo by 13.8% in the second quarter. Retirement Systems of Alabama now owns 69,305 shares of the company's stock valued at $4,601,000 after buying an additional 1,348 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of Perrigo by 15.6% in the first quarter. Teza Capital Management LLC acquired a new position in shares of Perrigo during the first quarter worth $205,000.

Principal Financial Group Inc augmented its investment by buying 185,678 shares an increase of 1,075.8% from 03/31/2017 to 06/30/2017. It improved, as 76 investors sold PRGO shares while 156 reduced holdings.

Shares of Perrigo Company (NYSE:PRGO) opened at 78.49 on Friday.

Starboard Value Lp holds 23.32% of its portfolio in Perrigo Company plc Ordinary Shares for 9.51 million shares. The company has a 50 day moving average price of $73.48 and a 200 day moving average price of $73.02. The current share price indicates that stock is -46.13% away from its one year high and is moving 145.08% ahead of its 52-week low.

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 company's second-quarter adjusted profit handsomely beat estimates, helped by strength across its businesses and higher-than-expected margins. The company's revenue for the quarter was down 7.7% on a year-over-year basis.

Perrigo's strong performance follows a period of struggle during which the company reduced its earnings forecasts a couple of times under CEO Hendrickson, prompting activist hedge fund Starboard Value LP to pressure the company to sell some assets. Equities analysts anticipate that Perrigo will post $4.32 EPS for the current fiscal year. Additionally the company recently declared a dividend that was paid on Tuesday June 13th, 2017.

August 4, 2017PerrigoFirmplc (NYSE; TASE: PRGO) reported it has received tentative authorization from the U.S. Food and Drug Administration for the generic version of Mirvaso® (brimonidine) topical gel 0.33%. Perrigo's dividend payout ratio is presently -3.90%. Active Investors have to observe some key indicators about shares of Perrigo Company plc (PRGO). If you are accessing this piece of content on another publication, it was stolen and republished in violation of United States and worldwide copyright and trademark laws.

Perrigo Company plc (PRGO) stock marked a gap of -22.49% off its 52 week- peak price value and pointed turn of 20.67% from its 52 week-bottom price value. Royal Bank Of Canada reiterated a "hold" rating and set a $68.00 price target on shares of Perrigo in a report on Wednesday, May 3rd. On July 22 the stock rating was upgraded from "Market Perform" to "Buy" in a report from Deutsche Bank. Blackrock Invest Limited Liability Corporation has invested 0.05% in Perrigo Company plc Ordinary Shares (NYSE:PRGO).

On June 20 the company was downgraded to "Hold" from "Buy" and a price target of $97.00 was set in a report issued by Argus Research. With the last stock price close up 5.23% from the two hundred day average, compared with the S&P 500 Index which has increased 0.05% over the date range.


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