Perrigo (NYSE:PRGO) Hits New 52-Week Low – Time to Sell?

Shares of Perrigo Company plc (NYSE:PRGO) reached a new 52-week low on Tuesday . The company traded as low as $23.70 and last traded at $23.71, with a volume of 113198 shares. The stock had previously closed at $24.34.

Analysts Set New Price Targets

A number of equities research analysts have commented on PRGO shares. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Perrigo presently has a consensus rating of “Hold” and an average price target of $35.00.

Perrigo Stock Performance

The company’s 50 day moving average price is $26.71 and its 200-day moving average price is $26.80. The stock has a market cap of $3.21 billion, a P/E ratio of -20.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were given a $0.276 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.69%. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Activity

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its stake in Perrigo by 1.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 119,298 shares of the company’s stock valued at $3,064,000 after acquiring an additional 1,357 shares during the period. American Century Companies Inc. increased its stake in shares of Perrigo by 13.7% in the second quarter. American Century Companies Inc. now owns 24,334 shares of the company’s stock worth $625,000 after purchasing an additional 2,929 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Perrigo by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after purchasing an additional 249,640 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Perrigo by 4.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 301,570 shares of the company’s stock valued at $7,744,000 after buying an additional 12,254 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Perrigo by 3.3% in the 2nd quarter. Amalgamated Bank now owns 85,350 shares of the company’s stock worth $2,192,000 after buying an additional 2,752 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

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.