StockNews.com Lowers Perrigo (NYSE:PRGO) to Hold

StockNews.com cut shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other analysts have also weighed in on PRGO. 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 note on Thursday, July 11th. Canaccord Genuity Group restated a buy rating and set a $42.00 target price on shares of Perrigo in a research note on Friday, April 12th.

Perrigo Stock Up 0.1 %

Shares of PRGO opened at $28.11 on Tuesday. The stock has a market capitalization of $3.83 billion, a PE ratio of -401.57 and a beta of 0.51. Perrigo has a 1 year low of $24.82 and a 1 year high of $40.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.08 and a current ratio of 1.81. The company’s 50-day simple moving average is $27.08 and its 200-day simple moving average is $29.85.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts forecast that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st were paid a $0.276 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.10 annualized dividend and a yield of 3.93%. Perrigo’s dividend payout ratio is currently -1,571.43%.

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the purchase, the executive vice president now directly owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perrigo

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Perrigo during the fourth quarter worth $30,000. Parkside Financial Bank & Trust lifted its holdings in shares of Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares during the period. Hexagon Capital Partners LLC acquired a new stake in shares of Perrigo during the fourth quarter worth $37,000. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo during the first quarter worth $48,000. Finally, Blue Trust Inc. lifted its holdings in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after purchasing an additional 399 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

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.