Piper Sandler Lowers Perrigo (NYSE:PRGO) Price Target to $35.00

Perrigo (NYSE:PRGO) had its price target cut by equities researchers at Piper Sandler from $36.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 27.37% from the company’s current price.

A number of other research firms have also commented on PRGO. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th.

Perrigo Trading Down 1.3 %

PRGO opened at $27.48 on Thursday. The business has a 50 day simple moving average of $27.69 and a two-hundred day simple moving average of $30.21. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -392.57 and a beta of 0.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. Perrigo has a one year low of $24.82 and a one year high of $40.28.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Saturday, May 4th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. Perrigo’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts predict that Perrigo will post 2.57 EPS for the current year.

Insider Transactions at Perrigo

In other news, EVP Svend Andersen bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $27.90 per share, with a total value of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Several hedge funds and other institutional investors have recently made changes to their positions in PRGO. GAMMA Investing LLC purchased a new stake in shares of Perrigo in the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust grew its stake in shares of Perrigo by 1,694.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 983 shares during the last quarter. Hexagon Capital Partners LLC purchased a new stake in shares of Perrigo in the 4th quarter worth approximately $37,000. Central Pacific Bank Trust Division purchased a new stake in shares of Perrigo in the 1st quarter worth approximately $48,000. Finally, Blue Trust Inc. grew its stake in shares of Perrigo by 34.5% in the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors 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.