Perrigo (NYSE:PRGO) Stock Rating Lowered by StockNews.com

Perrigo (NYSE:PRGO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

PRGO has been the topic of several other research reports. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Down 0.1 %

Shares of NYSE:PRGO traded down $0.02 during midday trading on Wednesday, hitting $25.64. 499,124 shares of the stock were exchanged, compared to its average volume of 1,594,669. The business’s fifty day simple moving average is $26.77 and its two-hundred day simple moving average is $26.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a 52-week low of $23.89 and a 52-week high of $34.60. The company has a market capitalization of $3.50 billion, a PE ratio of -21.91 and a beta of 0.52.

Perrigo (NYSE:PRGO) last posted 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 company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, research analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Perrigo

Large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC acquired a new position in shares of Perrigo during the third quarter valued at about $56,000. KBC Group NV increased its stake in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the period. Voisard Asset Management Group Inc. raised its holdings in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after acquiring an additional 450 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Perrigo in the 3rd quarter worth approximately $208,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Perrigo during the 2nd quarter worth approximately $213,000. 95.91% of the stock is currently 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.