Needham & Company maintains a 'Hold' on Perrigo Co. (PRGO); Q2 Outpaces Despite Some Segmental Head Winds
Tweet
Share
E-mailGet Alerts PRGO Hot Sheet
Price: $13.04 +1.64%
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on Perrigo Co. (NASDAQ: PRGO).
Analyst, Elliot Wilbur, says, "Despite hurdles of a weak cough/cold segment and continued underperformance in nutritionals, PRGO again delivered financials that surpassed expectations aided by another strong quarter from RX generics. While a slowly recovering Johnson & Johnson (NYSE: JNJ) and continued short-term top-line and margin performance challenges in nutritionals remove a couple of key outperformance levers that management has previously banked on, Rx generic trends (both volume and pricing) and new product launch calendar on the consumer side remain strong, suggesting continued favorable performance vs. consensus estimates which remain at the midpoint of guidance despite strong historical beat & raise track record. While PRGO delivered another solid numbers performance, we remain neutral on shares given our view that upside remains predicated on strong near-term generic segment dynamics and more favorable reward/risk opportunities can be found in less valuation-challenged peers."
For an analyst ratings summary and ratings history on Perrigo Co. click here. For more ratings news on Perrigo Co. click here.
Shares of Perrigo Co. closed at $95.26 yesterday.
Analyst, Elliot Wilbur, says, "Despite hurdles of a weak cough/cold segment and continued underperformance in nutritionals, PRGO again delivered financials that surpassed expectations aided by another strong quarter from RX generics. While a slowly recovering Johnson & Johnson (NYSE: JNJ) and continued short-term top-line and margin performance challenges in nutritionals remove a couple of key outperformance levers that management has previously banked on, Rx generic trends (both volume and pricing) and new product launch calendar on the consumer side remain strong, suggesting continued favorable performance vs. consensus estimates which remain at the midpoint of guidance despite strong historical beat & raise track record. While PRGO delivered another solid numbers performance, we remain neutral on shares given our view that upside remains predicated on strong near-term generic segment dynamics and more favorable reward/risk opportunities can be found in less valuation-challenged peers."
For an analyst ratings summary and ratings history on Perrigo Co. click here. For more ratings news on Perrigo Co. click here.
Shares of Perrigo Co. closed at $95.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Alpha & Omega Semiconductor (AOSL) PT Lowered to $45 at Needham
- Coherent (COHR) PT Raised to $420 at Needham
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
