Perrigo (NYSE:PRGO) Raised to Buy at StockNews.com

Perrigo (NYSE:PRGO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Piper Sandler cut their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Down 1.4 %

PRGO stock traded down $0.38 during trading on Thursday, hitting $26.93. The company had a trading volume of 1,795,359 shares, compared to its average volume of 1,625,311. The firm has a market capitalization of $3.67 billion, a P/E ratio of -29.27 and a beta of 0.48. Perrigo has a 52-week low of $23.89 and a 52-week high of $34.60. The company has a 50 day simple moving average of $26.23 and a 200-day simple moving average of $27.53. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, research analysts forecast that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred 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 directly owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred on Friday, September 13th. The shares were 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 approximately $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Perrigo

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Perrigo by 230.3% during the 1st quarter. BNP Paribas Financial Markets now owns 220,613 shares of the company’s stock valued at $7,102,000 after purchasing an additional 153,829 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Perrigo by 31.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 54,649 shares of the company’s stock valued at $1,759,000 after purchasing an additional 13,176 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Perrigo in the 1st quarter worth $48,000. Texas Permanent School Fund Corp increased its holdings in Perrigo by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 117,941 shares of the company’s stock worth $3,797,000 after acquiring an additional 1,888 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Perrigo by 4,017.5% in the 1st quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock worth $4,158,000 after acquiring an additional 126,028 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.