Perrigo (NYSE:PRGO) Stock Rating Reaffirmed by Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Perrigo (NYSE:PRGO) in a research note published on Monday morning, Marketbeat.com reports. They currently have a $30.00 target price on the stock, down from their prior target price of $50.00.

A number of other research firms have also recently commented on PRGO. StockNews.com raised Perrigo from a hold rating to a buy rating in a report on Monday, August 5th. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an overweight rating on the stock in a report on Thursday, July 11th. Two 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.com, the company has an average rating of Moderate Buy and a consensus price target of $37.00.

Perrigo Stock Down 3.8 %

PRGO stock opened at $25.54 on Monday. Perrigo has a twelve month low of $24.82 and a twelve month 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. The stock has a market cap of $3.48 billion, a P/E ratio of -364.86 and a beta of 0.49. The business’s 50-day moving average price is $27.87 and its 200-day moving average price is $28.74.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. On average, equities research analysts forecast that Perrigo will post 2.57 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, August 30th. Perrigo’s dividend payout ratio is currently -1,571.43%.

Insider Activity

In other news, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’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 of the company’s stock, valued at approximately $164,045.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perrigo

Several hedge funds have recently bought and sold shares of PRGO. Central Pacific Bank Trust Division purchased a new stake in shares of Perrigo in the 1st quarter worth $48,000. Parallel Advisors LLC lifted its holdings in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the period. TFC Financial Management Inc. lifted its holdings in shares of Perrigo by 39.7% in the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after buying an additional 700 shares during the period. Beach Investment Counsel Inc. PA purchased a new stake in shares of Perrigo in the 2nd quarter worth $72,000. Finally, Voisard Asset Management Group Inc. lifted its holdings in shares of Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after buying an additional 3,900 shares during the period. Institutional investors 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.