Perrigo (NYSE:PRGO) Upgraded to Buy by 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 Thursday.

PRGO has been the subject of a number of other research reports. Piper Sandler lowered their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target 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 objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Perrigo has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Price Performance

NYSE PRGO opened at $24.98 on Thursday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -356.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The stock’s fifty day moving average price is $26.85 and its 200 day moving average price is $28.07. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last announced 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue was down 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is currently -1,571.43%.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,254 shares of company stock valued at $1,411,969 over the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Perrigo

A number of hedge funds have recently made changes to their positions in PRGO. Vanguard Group Inc. grew its holdings in Perrigo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company’s stock worth $482,517,000 after acquiring an additional 91,322 shares in the last quarter. Quadrature Capital Ltd bought a new position in Perrigo during the 4th quarter worth approximately $313,000. Los Angeles Capital Management LLC grew its position in shares of Perrigo by 1,578.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 168,164 shares of the company’s stock worth $5,413,000 after acquiring an additional 158,144 shares in the last quarter. Alaska Permanent Fund Corp increased its holdings in shares of Perrigo by 93.8% in the 1st quarter. Alaska Permanent Fund Corp now owns 28,449 shares of the company’s stock valued at $916,000 after acquiring an additional 13,769 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Perrigo by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock valued at $365,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

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.