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

Shares of Perrigo Company plc (NYSE:PRGO) have received an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.00.

Several research analysts recently issued reports on PRGO shares. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Insider Buying and Selling

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction that occurred on Monday, December 9th. The shares were 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 owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perrigo

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Perrigo during the third quarter valued at $3,717,000. Barclays PLC increased its position in shares of Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after purchasing an additional 37,268 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Perrigo in the 3rd quarter worth approximately $7,111,000. AQR Capital Management LLC boosted its holdings in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after buying an additional 845,470 shares during the last quarter. Finally, Citigroup Inc. grew its position in Perrigo by 94.1% during the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after buying an additional 73,457 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Performance

NYSE:PRGO opened at $23.86 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $26.43 and its 200 day simple moving average is $26.72. The stock has a market cap of $3.26 billion, a P/E ratio of -20.40 and a beta of 0.53. Perrigo has a twelve month low of $23.14 and a twelve month high of $33.96.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates 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 revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, research analysts predict that Perrigo will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a dividend of $0.276 per share. The ex-dividend date was Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.63%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

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.