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 issued to investors on Monday morning.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of 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 research note on Monday, January 6th. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Perrigo currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Perrigo Trading Up 0.5 %

Shares of PRGO stock opened at $24.31 on Monday. The company has a market cap of $3.32 billion, a PE ratio of -20.78 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $25.39 and its two-hundred day simple moving average is $26.41. Perrigo has a 1 year low of $23.14 and a 1 year high of $33.46.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after acquiring an additional 1,878,145 shares in the last quarter. FMR LLC raised its position in shares of Perrigo by 66,795.3% in the third quarter. FMR LLC now owns 1,840,289 shares of the company’s stock worth $48,271,000 after acquiring an additional 1,837,538 shares during the period. Norges Bank purchased a new stake in shares of Perrigo during the 4th quarter worth about $36,614,000. Bahl & Gaynor Inc. grew its position in shares of Perrigo by 44.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after acquiring an additional 472,958 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Perrigo by 23.1% in the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after purchasing an additional 465,161 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

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.