Nice article, you may have something here. Maybe Papa leaving will get it going, but the news on their recent aq is hurting value.
Mylan will be right back at PRGO doors very quickly with another 20+ billion dollar deal which will likely succeed this time. Mylan need PRGO badly as there are a lot of synergies in combining the two companies and now Head of company went to VRX its ripe for buyout
with Abbott's 28 billion buyout of St Jude, medical/pharma deals are starting to heat up here. PRGO will get interest very soon by Mylan again and possible others now that it is dirt cheap!
Accident Compensation Corp bought a new position in shares of Perrigo Company PLC during the fourth quarter worth approximately $7,954,000. American Century Companies Inc. raised its position in shares of Perrigo Company PLC by 183.9% in the fourth quarter. American Century Companies Inc. now owns 1,066,629 shares of the company’s stock worth $154,341,000 after buying an additional 690,934 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Perrigo Company PLC during the fourth quarter worth approximately $7,678,000. Highstreet Asset Management Inc. bought a new position in shares of Perrigo Company PLC during the fourth quarter worth approximately $728,000. Finally, Pictet & Cie Europe SA raised its position in shares of Perrigo Company PLC by 1.8% in the fourth quarter. Pictet & Cie Europe SA now owns 11,350 shares of the company’s stock worth $1,648,000 after buying an additional 200 shares in the last quarter.
Perrigo Company PLC (NASDAQ:PRGO) traded down 1.97% on Monday, reaching $97.59. The company had a trading volume of 3,431,603 shares. The firm has a 50-day moving average of $128.16 and a 200-day moving average of $142.06. The stock’s market capitalization is $14.29 billion. Perrigo Company PLC has a 12 month low of $96.37 and a 12 month high of $200.96.
Take profit as soon as it hits $100.29.The target is valid for next one week
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Spring of 2015 were bubbly times for biotech, and the Mylan buyout premium was quite generous. The company's future estimated cash flows were also generous....too generous. Now after analysts are forced to scale back future growth estimates to less optimistic levels, PRGO gets slapped with a lower multiple.
At these prices (mid $90s), PRGO could still be a nice pickup....assuming those future earnings estimates don't slide much further. Not sure if there are more cockroaches in the cupboard here. Joey Papa jumped out of this frying pan in a hurry.
As you said that 1 year can make a big difference, PRGO probably will do much better than VRX in 1 year imo.
they should have taken the offer....and that CEO mucked up...and now jumps ship...like he's a wonder-boy...messed up...It's all rigged, like Trump says...it's those super pharma delegates, etc...we have no control...And Hitlery will protect the "riggers" on Wall Street...they own her $$...release those transcripts !!!
I would like to remind you Perrigo is a well established company, founded in 1887 with 13,500 employees in Dublin, Ireland, not a company just IPO.
On April 6 2015 Mylan wanted to buy Perrigo at 29 Bil ($205/share) and Perrigo rejected because they said it's too low if compare to company value.
On April 27 2016 after ceo resigned and announcement of lower earnings, the price dropped to 97.50
What's a difference between a year, their value is cut more than a half.
Can any one explain why?
Yes, idiots do run Mylan, but the buyout rejection by Papa "one-upped" them on the idiot scale. Hope he gets buried at VRX, but sadly, he will become a lot wealthier regardless of the outcome.
Well I hope you guys are right , but at least let him come out with some kind of annoucement. the future , a mega buyback maybe which will show confidence. I cant take this quiteness . as if the whole perrigo management have jumped into a hole and put the lid on.
I am pretty sure you haven't read Goddtogreat by Jim Collins, many of the good to great companies didn't have the larger than life CEOs, most of them came from within, people who had a passion and love for the business first and above all. To me this was a PERFECT pick. is what actually got me into the stock
Sentiment: Strong Buy