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PRGO

Perrigo

$72.31

-5.99 (-7.65%)

10:38
08/09/18
08/09
10:38
08/09/18
10:38

Perrigo quarter disappointing on 'several fronts,' says Wells Fargo

Wells Fargo analyst David Maris says that while he's not recommending shares of Perrigo, the company's Q2 results are still disappointing on "several fronts," especially segment operating margins and Rx Segment revenues. Perrigo missed Q2 estimates and lowered its outlook for 2018, Maris tells investors in a post-earnings research note. He keeps a Market Perform rating on the shares with an $84 price target. The stock in morning trading is down 8%, or $6.37, to $71.93.

  • 09

    Aug

PRGO Perrigo
$72.31

-5.99 (-7.65%)

07/18/18
CANT
07/18/18
NO CHANGE
Target $107
CANT
Overweight
FDA draft guidance 'meaningfully positive' for Perrigo, says Cantor Fitzgerald
The 4% rally yesterday in Perrigo shares was driven by the FDA's draft guidance titled Innovative Approaches for Nonprescription Drug Products, which helps advance the availability of over-the-counter drugs, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. The analyst views the draft guidance as "meaningfully positive" for Perrigo given the company's "dominance in OTC store brand drugs." The draft guidance applies to drugs under the new drug application process and is intended to extend that NDA pathway to include therapeutic indications that have not, historically, been available for use without a prescription, Chen writes. She keeps an Overweight rating on Perrigo with a $107 price target.
07/30/18
ARGS
07/30/18
DOWNGRADE
ARGS
Hold
Perrigo downgraded to Hold from Buy at Argus
07/30/18
ARGS
07/30/18
DOWNGRADE
ARGS
Hold
Perrigo downgraded to Hold at Argus on price erosion and lower margins
As reported earlier, Argus analyst Jasper Hellweg downgraded Perrigo to Hold from Buy to reflect the challenges faced by the company around the "industry-wide price erosion, a legal investigation, and a reduction in FDA approvals". The analyst also lowered his FY18 EPS estimate to $5.28 from $5.43 as a result of reduced margins driven by higher spending on research and development. Hellweg believes that these challenges justify Perrigo's discount valuation of 14.7-times expected FY18 earnings multiple relative to its 5-year historical average as well as the peer average of 17.6-times.
07/30/18
07/30/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Colgate-Palmolive (CL) downgraded to Neutral from Outperform at Macquarie with analyst Caroline Levy saying she does not expect growth to accelerate over the next several quarters and lowered her FY18 organic sales estimate to 0.5% from 1% and FY19 to 2.2% from 3.2%. 2. Alaska Air (ALK) downgraded to Neutral from Outperform at Macquarie. 3. Perrigo (PRGO) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing the challenges faced by the company around the "industry-wide price erosion, a legal investigation, and a reduction in FDA approvals." 4. Synchronoss (SNCR) downgraded to Sell from Hold at Stifel with analyst Tom Roderick saying recent filings reveal that liquidity issues loom, the company is "out of levers, and time is not on their side." 5. Synchrony (SYF) downgraded to Equal Weight from Overweight at Barclays with analyst Mark Devries saying the loss of the Walmart (WMT) credit card business heightens contract renewal risk and caps upside in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CMCSA

Comcast

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AMRH

AMERI Holdings

$1.44

-0.04 (-2.70%)

13:30
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BRK.A

Berkshire Hathaway

$331,710.00

-1090 (-0.33%)

13:26
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BLGO

BioLargo

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13:11
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CZWI

Citizens Community Bancorp

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0.03 (0.21%)

12:56
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SF

Stifel Financial

$54.86

-0.78 (-1.40%)

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PBCT

People's United

$17.94

-0.055 (-0.31%)

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First Connecticut

$30.95

0.1 (0.32%)

12:47
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PBCT

People's United

$17.94

-0.055 (-0.31%)

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First Connecticut

$30.95

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ASPS

Altisource

$34.10

-0.09 (-0.26%)

12:44
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AAPL

Apple

$217.65

-2.35 (-1.07%)

, CSCO

Cisco

$48.51

0.77 (1.61%)

12:36
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Apple, Microsoft among stocks with solid dividends, Barron's says »

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AAPL

Apple

$217.65

-2.35 (-1.07%)

CSCO

Cisco

$48.51

0.77 (1.61%)

IBM

IBM

$151.29

0.12 (0.08%)

MSFT

Microsoft

$114.70

1.13 (0.99%)

ORCL

Oracle

$51.08

0.65 (1.29%)

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CAT

Caterpillar

$156.39

0.38 (0.24%)

, AMAT

Applied Materials

$39.62

0.22 (0.56%)

12:28
09/22/18
09/22
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Periodicals
Caterpillar, KeyCorp among stocks to buy as bond yields rise, Barron's says »

As the economy improves,…

CAT

Caterpillar

$156.39

0.38 (0.24%)

AMAT

Applied Materials

$39.62

0.22 (0.56%)

BWA

BorgWarner

$45.24

-0.53 (-1.16%)

KEY

KeyCorp

$20.78

0.02 (0.10%)

PH

Parker-Hannifin

$190.52

0.01 (0.01%)

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BSX

Boston Scientific

$37.76

-0.07 (-0.19%)

, ISRG

Intuitive Surgical

$556.70

-4.43 (-0.79%)

10:34
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BSX

Boston Scientific

$37.76

-0.07 (-0.19%)

ISRG

Intuitive Surgical

$556.70

-4.43 (-0.79%)

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  • 09

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TLRY

Tilray

$123.16

-53.365 (-30.23%)

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AAPL

Apple

$217.65

-2.35 (-1.07%)

, WMT

Walmart

$95.85

0.1 (0.10%)

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AAPL

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$217.65

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WMT

Walmart

$95.85

0.1 (0.10%)

DE

Deere

$152.82

-1.24 (-0.80%)

AGCO

Agco

$60.24

-0.9 (-1.47%)

ADM

Archer Daniels

$50.33

(0.00%)

MOS

Mosaic

$32.33

0.02 (0.06%)

CF

CF Industries

$52.82

-0.48 (-0.90%)

SPWR

SunPower

$7.88

-0.18 (-2.23%)

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  • 26

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AERI

Aerie Pharmaceuticals

$58.50

0.1 (0.17%)

, AGN

Allergan

$191.34

-1.11 (-0.58%)

04:55
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18th Congress of EURETINA…

AERI

Aerie Pharmaceuticals

$58.50

0.1 (0.17%)

AGN

Allergan

$191.34

-1.11 (-0.58%)

ALIM

Alimera Sciences

$1.07

(0.00%)

BABY

Natus Medical

$34.45

-0.2 (-0.58%)

BHC

Bausch Health

$24.92

-0.07 (-0.28%)

BAYRY

Bayer

$0.00

(0.00%)

ELXMF

Ellex Medical Lasers

$0.00

(0.00%)

GKOS

Glaukos

$58.78

-1.69 (-2.79%)

IRIX

IRIDEX

$6.52

0.08 (1.24%)

JNJ

Johnson & Johnson

$142.85

0.85 (0.60%)

NITE

Nightstar Therapeutics

$25.64

-1.71 (-6.25%)

NVS

Novartis

$85.46

-0.505 (-0.59%)

OCUL

Ocular Therapeutix

$6.45

0.03 (0.47%)

RHHBY

Roche

$0.00

(0.00%)

SHPG

Shire

$178.32

-1.68 (-0.93%)

STAA

STAAR Surgical

$47.00

-0.9 (-1.88%)

TMDI

Titan Medical

$2.24

0.02 (0.90%)

TTNP

Titan Pharmaceuticals

$0.22

-0.2833 (-56.66%)

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CDTI

CDTi

$0.34

0.01 (3.08%)

18:15
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DUK

Duke Energy

$79.82

-0.81 (-1.00%)

18:08
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Duke Energy restored nearly 1.8M outages in NC, SC during past week »

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  • 01

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JNJ

Johnson & Johnson

$142.85

0.85 (0.60%)

18:01
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  • 16

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UAL

United Continental

$89.94

0.8 (0.90%)

17:39
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United pilots refuse contract changes on regional routes, Reuters says »

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  • 21

    Sep

XLE

Energy Select Sector SPDR

$75.11

0.5132 (0.69%)

, XLU

Utilities SPDR

$53.04

0.2049 (0.39%)

17:36
09/21/18
09/21
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17:36
General news
Week ending ETF Scorecard: Materials outperform, Utlilites slump »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$75.11

0.5132 (0.69%)

XLU

Utilities SPDR

$53.04

0.2049 (0.39%)

IYR

DJ US Real Estate Index Fund

$81.88

-0.06 (-0.07%)

XLP

Consumer Staples Sector SPDR

$55.02

0.1285 (0.23%)

XLY

Consumer Discretionary Sector SPDR

$116.98

-0.4288 (-0.37%)

XLB

S&P Select Materials SPDR

$60.54

-0.1312 (-0.22%)

XLF

Financial Select Sector

$28.73

-0.1175 (-0.41%)

XLV

Health Care Select Sector SPDR

$94.26

0.1571 (0.17%)

XLK

Technology Select Sector SPDR

$74.68

-0.2056 (-0.27%)

XLI

Industrial Select Sector SPDR

$79.71

0.2338 (0.29%)

GLD

SPDR Gold Trust

$113.48

-0.77 (-0.67%)

SLV

iShares Silver Trust

$13.44

-0.01 (-0.07%)

USO

United States Oil Fund

$14.95

0.145 (0.98%)

UNG

United States Natural Gas Fund

$24.60

0.235 (0.96%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$86.24

0.05 (0.06%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$114.72

0.04 (0.03%)

TLT

iShares 20+ Year Treasury Bond Fund

$117.12

-0.02 (-0.02%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.00

0.03 (0.03%)

SHY

iShares 1-3 Year Treasury Bond

$83.05

0.02 (0.02%)

IWD

iShares Russell 1000 Value

$129.51

0.13 (0.10%)

IWF

iShares Russell 1000 Growth

$155.30

-0.55 (-0.35%)

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OHGI

One Horizon Group

$0.18

-0.0088 (-4.63%)

17:34
09/21/18
09/21
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17:34
Syndicate
Breaking Syndicate news story on One Horizon Group »

One Horizon Group files…

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CYTX

Cytori Therapeutics

$0.41

-0.033 (-7.38%)

17:31
09/21/18
09/21
17:31
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17:31
Syndicate
Breaking Syndicate news story on Cytori Therapeutics »

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NEM

Newmont Mining

$31.56

0.05 (0.16%)

17:22
09/21/18
09/21
17:22
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17:22
Syndicate
Breaking Syndicate news story on Newmont Mining »

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CB

Chubb

$139.87

-0.05 (-0.04%)

17:22
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09/21
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17:22
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Chubb CEO Greenberg sells $8.6M in common stock »

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VTVT

vTv Therapeutics

$0.80

0.0096 (1.21%)

17:21
09/21/18
09/21
17:21
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17:21
Hot Stocks
vTv says FDA advised that azeliragon efficacy be shown in at least 2 trials »

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