Perrigo’s (PRGO) “Hold” Rating Reiterated at Jefferies Financial Group

Perrigo (NYSE:PRGO)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Financial Group in a research report issued on Monday, MarketBeat.com reports. They currently have a $30.00 target price on the stock, down from their previous target price of $50.00. Jefferies Financial Group’s price objective would suggest a potential upside of 13.06% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Piper Sandler cut their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Perrigo has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Price Performance

NYSE PRGO opened at $26.54 on Monday. The business has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $28.76. Perrigo has a 52-week low of $24.82 and a 52-week high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -379.07 and a beta of 0.49.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s revenue was down 10.7% on a year-over-year basis. Analysts anticipate that Perrigo will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Perrigo

In related news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Svend Andersen sold 28,300 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,254 shares of company stock worth $1,411,969. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in Perrigo by 1,578.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 168,164 shares of the company’s stock worth $5,413,000 after buying an additional 158,144 shares during the period. SG Americas Securities LLC increased its position in shares of Perrigo by 4,017.5% in the first quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock worth $4,158,000 after purchasing an additional 126,028 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Perrigo by 3,796.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock worth $18,736,000 after purchasing an additional 567,274 shares during the period. Russell Investments Group Ltd. increased its position in shares of Perrigo by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company’s stock worth $25,982,000 after purchasing an additional 50,871 shares during the period. Finally, Invenomic Capital Management LP bought a new position in shares of Perrigo in the first quarter worth $2,425,000. Institutional investors own 95.91% of the company’s stock.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.