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

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

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Piper Sandler decreased 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 target price 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 stock. Based on data from MarketBeat.com, Perrigo has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Price Performance

NYSE PRGO traded down $0.38 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. Perrigo has a 12-month low of $23.89 and a 12-month high of $34.60. The company has a market capitalization of $3.67 billion, a PE ratio of -29.27 and a beta of 0.48. The company’s fifty day moving average price is $26.23 and its 200-day moving average price is $27.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24.

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

Insiders Place Their Bets

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction dated 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 directly owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ronald Craig Janish sold 13,000 shares of the company’s 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 sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the 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 completion of the transaction, the director now owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock worth $1,411,969 over the last three months. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Perrigo

Several hedge funds have recently added to or reduced their stakes in PRGO. Nicola Wealth Management LTD. boosted its holdings in shares of Perrigo by 59.0% in the third quarter. Nicola Wealth Management LTD. now owns 159,000 shares of the company’s stock valued at $4,171,000 after acquiring an additional 59,000 shares during the period. KBC Group NV boosted its holdings in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Perrigo by 1.2% in the third quarter. Victory Capital Management Inc. now owns 1,422,288 shares of the company’s stock valued at $37,307,000 after acquiring an additional 16,735 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo in the third quarter valued at approximately $56,000. Finally, Atria Investments Inc acquired a new stake in shares of Perrigo in the third quarter valued at approximately $208,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

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.