Perrigo (NYSE:PRGO) Upgraded at StockNews.com

StockNews.com upgraded shares of Perrigo (NYSE:PRGO) from a hold rating to a buy rating in a research note released on Thursday.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Finally, Piper Sandler reduced 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Perrigo presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Trading Down 2.1 %

Shares of Perrigo stock opened at $26.36 on Thursday. The company has a fifty day simple moving average of $26.13 and a 200-day simple moving average of $27.48. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -22.53 and a beta of 0.48. The company has a current ratio of 2.56, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. Perrigo has a 12-month low of $23.89 and a 12-month high of $34.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.19%. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Activity at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Perrigo

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Perrigo by 230.3% in the first quarter. BNP Paribas Financial Markets now owns 220,613 shares of the company’s stock valued at $7,102,000 after buying an additional 153,829 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Perrigo by 31.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 54,649 shares of the company’s stock worth $1,759,000 after buying an additional 13,176 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Perrigo during the 1st quarter worth $48,000. Texas Permanent School Fund Corp boosted its position in Perrigo by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 117,941 shares of the company’s stock valued at $3,797,000 after buying an additional 1,888 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Perrigo by 4,017.5% during the first quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock valued at $4,158,000 after acquiring an additional 126,028 shares in the last quarter. Institutional investors and hedge funds 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.