Perrigo (NYSE:PRGO) Rating Lowered to “Hold” at Argus

Perrigo (NYSE:PRGO) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Perrigo Stock Up 0.1 %

Perrigo stock opened at $23.53 on Tuesday. The stock’s fifty day moving average is $26.68 and its two-hundred day moving average is $26.79. The stock has a market cap of $3.21 billion, a PE ratio of -20.11 and a beta of 0.53. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

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

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Trading of Perrigo

Several hedge funds and other institutional investors have recently made changes to their positions in PRGO. Versant Capital Management Inc purchased a new position in Perrigo during the fourth quarter worth about $45,000. GAMMA Investing LLC increased its position in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo in the 3rd quarter valued at approximately $56,000. Finally, KBC Group NV boosted its stake in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after buying an additional 905 shares in the last quarter. Hedge funds and other 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.