Perrigo (NYSE:PRGO) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Perrigo (NYSE:PRGO) from a hold rating to a buy rating in a report published on Thursday morning.

PRGO has been the topic of a number of other reports. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Piper Sandler lowered their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Perrigo currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Up 1.3 %

PRGO opened at $25.30 on Thursday. The firm has a market cap of $3.45 billion, a P/E ratio of -27.50 and a beta of 0.48. The business’s fifty day simple moving average is $26.82 and its 200 day simple moving average is $28.00. Perrigo has a 52 week low of $23.89 and a 52 week high of $34.60. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, equities research analysts anticipate that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Friday, August 30th. Perrigo’s payout ratio is currently -119.57%.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the firm’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 transaction, the director now owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,254 shares of company stock worth $1,411,969. Insiders own 0.40% of the company’s stock.

Institutional Trading of Perrigo

Institutional investors and hedge funds have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new stake in shares of Perrigo during the 1st quarter valued at about $48,000. TFC Financial Management Inc. grew its holdings in shares of Perrigo by 39.7% during the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after purchasing an additional 700 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo during the second quarter valued at approximately $72,000. Voisard Asset Management Group Inc. raised its position in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares during the period. Finally, CWM LLC lifted its holdings in shares of Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares during the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

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.