Perrigo Company plc (NYSE:PRGO) Receives $35.00 Consensus Target Price from Analysts

Perrigo Company plc (NYSE:PRGO) has earned an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $35.00.

PRGO has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th.

Insider Buying and Selling

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRGO. Versant Capital Management Inc acquired a new position in Perrigo in the fourth quarter valued at $45,000. GAMMA Investing LLC grew its holdings in Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after buying an additional 929 shares during the period. Central Pacific Bank Trust Division increased 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 valued at $51,000 after acquiring an additional 500 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Perrigo during the 3rd quarter worth about $56,000. Finally, KBC Group NV boosted its position in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after acquiring an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Up 1.5 %

PRGO opened at $23.85 on Tuesday. Perrigo has a one year low of $23.14 and a one year high of $33.96. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock has a market capitalization of $3.25 billion, a P/E ratio of -20.38 and a beta of 0.53. The business’s 50-day simple moving average is $26.60 and its 200-day simple moving average is $26.77.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates 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 negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts anticipate that Perrigo will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

About Perrigo

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.