Perrigo Company plc Received its Third Buy in a Row

By Jason Carr

After Cantor Fitzgerald and Barclays assigned a Buy rating to Perrigo Company plc in the last month, the company received another Buy, this time from Canaccord Genuity. Analyst Dewey Steadman maintained a Buy rating on Perrigo Company plc (NYSE: PRGO) today and set a price target of $100. The company’s shares opened today at $87.62, close to its 52-week high of $91.73.

According to TipRanks.com, Steadman is a 1-star analyst with an average return of -1.0% and a 39.4% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Infotek Pharmaceuticals, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Perrigo Company plc is Strong Buy and the average price target is $96.43, representing a 10.1% upside.

In a report issued on December 15, Cantor Fitzgerald also assigned a Buy rating to the stock with a $107 price target.

Based on Perrigo Company plc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.23 billion and quarterly net profit of $44.5 million. In comparison, last year the company earned revenue of $1.26 billion and had a GAAP net loss of $1.59 billion.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is neutral on the stock.

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Perrigo Co. Plc engages in the production of over-the-counter consumer goods and specialty pharmaceutical products. It operates through the following segments: Consumer Healthcare (CHC), Branded Consumer Healthcare (BCH), Prescription Pharmaceuticals, and Specialty Sciences.