Perrigo Company plc Ordinary Shares (PRGO) is Downgraded by Wells Fargo to Market Perform

Perrigo Company plc Ordinary Shares (PRGO) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Perrigo Company plc Ordinary Shares. Perrigo Company plc Ordinary Shares was Downgraded by Goldman to ” Sell” on Feb 22, 2016. Shares were Downgraded by B. Riley & Co. on Feb 19, 2016 to ” Neutral” and Lowered the Price Target to $ 146 from a previous price target of $239 .Perrigo Company plc Ordinary Shares was Initiated by Wells Fargo to “Outperform” on Feb 19, 2016.

On the company’s financial health, Perrigo Company plc Ordinary Shares reported $1.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $1.93. The company had revenue of $1424.80 million for the quarter, compared to analysts expectations of $1463.40 million. The company’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS.

Perrigo Company plc Ordinary Shares closed down -7.33 points or -5.70% at $121.35 with 86,46,207 shares getting traded on Friday. Post opening the session at $123.19, the shares hit an intraday low of $120.1 and an intraday high of $125.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 14, 2016, Judy L Brown (Executive VP & CFO) sold 2,776 shares at $126.22 per share price. According to the SEC, on Mar 22, 2016, Michael J Jandernoa (director) sold 761 shares at $128.29 per share price. On Mar 4, 2016, Sharon Kochan (EVP, GM International) sold 1,490 shares at $125.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Perrigo Company plc Ordinary Shares

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