Perrigo Company plc (NYSE:PRGO) Receives Consensus Rating of “Hold” from Analysts

Shares of Perrigo Company plc (NYSE:PRGO) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.00.

A number of research firms recently weighed in on PRGO. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Finally, Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $27.00 in a research report on Monday, January 6th.

Perrigo Stock Down 1.4 %

Perrigo stock opened at $24.61 on Friday. The stock has a 50-day simple moving average of $25.65 and a 200-day simple moving average of $26.50. The company has a market capitalization of $3.36 billion, a P/E ratio of -21.03 and a beta of 0.54. 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 fifty-two week low of $23.14 and a fifty-two week high of $33.46.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo 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 completion of the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cooke & Bieler LP grew its stake in Perrigo by 4.1% in the 4th quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock valued at $91,879,000 after acquiring an additional 139,650 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares during the last quarter. Copeland Capital Management LLC increased its stake in shares of Perrigo by 23.1% during the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after purchasing an additional 465,161 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Perrigo by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company’s stock worth $61,894,000 after purchasing an additional 106,356 shares during the last quarter. Finally, FMR LLC lifted its stake in Perrigo by 66,795.3% in the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after buying an additional 1,837,538 shares in the last quarter. Hedge funds and other 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.