Jefferies Financial Group Reiterates “Hold” Rating for Perrigo (NYSE:PRGO)

Perrigo (NYSE:PRGO)‘s stock had its “hold” rating reiterated by Jefferies Financial Group in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $30.00 target price on the stock, down from their previous target price of $50.00. Jefferies Financial Group’s price objective would indicate a potential upside of 13.06% from the stock’s current price.

PRGO has been the topic of several other research reports. Piper Sandler reduced 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. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Perrigo has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Stock Down 1.9 %

PRGO opened at $26.54 on Monday. Perrigo has a fifty-two week low of $24.82 and a fifty-two week high of $34.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The firm’s fifty day moving average price is $27.92 and its two-hundred day moving average price is $28.76. The company has a market capitalization of $3.62 billion, a P/E ratio of -379.07 and a beta of 0.49.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. On average, analysts anticipate that Perrigo will post 2.57 EPS for the current year.

Insider Buying and Selling

In related news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock worth $1,411,969 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRGO. Central Pacific Bank Trust Division bought a new stake in shares of Perrigo in the 1st quarter valued at about $48,000. Parallel Advisors LLC increased its stake in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after acquiring an additional 821 shares during the last quarter. TFC Financial Management Inc. increased its stake in shares of Perrigo by 39.7% in the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after acquiring an additional 700 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo in the 2nd quarter valued at about $72,000. Finally, Voisard Asset Management Group Inc. increased its stake in shares of Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after acquiring an additional 3,900 shares during the last quarter. 95.91% of the stock is owned by 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.