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

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

Several other research firms also recently issued reports on PRGO. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.00.

Perrigo Trading Down 2.6 %

NYSE PRGO opened at $24.41 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo has a 12 month low of $23.89 and a 12 month high of $33.96. The company has a market capitalization of $3.33 billion, a PE ratio of -20.86 and a beta of 0.53. The stock has a 50-day simple moving average of $26.74 and a 200 day simple moving average of $26.81.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.64 EPS. Research analysts forecast that Perrigo will post 2.56 EPS for the current year.

Insider Buying and Selling at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

A number of institutional investors have recently modified their holdings of the business. Versant Capital Management Inc acquired a new stake in Perrigo in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC increased its stake in shares of Perrigo by 93.7% in the fourth 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 raised its holdings in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Perrigo during the 3rd quarter worth approximately $56,000. Finally, KBC Group NV increased its position in Perrigo by 25.1% in the 3rd 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. Institutional investors and hedge funds 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.