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

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.00.

Perrigo Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock’s fifty day simple moving average is $26.60 and its 200-day simple moving average is $26.77. The stock has a market cap of $3.25 billion, a P/E ratio of -20.38 and a beta of 0.53.

Perrigo (NYSE:PRGO) last issued 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 firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.63%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was 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 available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Perrigo in the fourth quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Perrigo in the third quarter valued at $56,000. Finally, KBC Group NV increased 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 buying an additional 905 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.