StockNews.com Upgrades Perrigo (NYSE:PRGO) to “Buy”

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

Other analysts also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Finally, Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Up 1.2 %

NYSE:PRGO opened at $25.29 on Thursday. The firm has a market cap of $3.45 billion, a PE ratio of -27.49 and a beta of 0.48. The stock has a fifty day moving average price of $26.82 and a 200 day moving average price of $28.02. Perrigo has a 12-month low of $23.89 and a 12-month high of $34.60. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80.

Perrigo (NYSE:PRGO) last released its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. Perrigo’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Sell-side analysts anticipate that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,254 shares of company stock valued at $1,411,969. Insiders own 0.40% of the company’s stock.

Institutional Trading of Perrigo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division purchased a new stake in Perrigo during the 1st quarter valued at approximately $48,000. TFC Financial Management Inc. raised its stake in Perrigo by 39.7% during 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 purchased a new stake in Perrigo during the 2nd quarter valued at approximately $72,000. Voisard Asset Management Group Inc. raised its stake in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after buying an additional 3,900 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Perrigo by 877.0% during the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after buying an additional 7,358 shares in the last quarter. 95.91% of the stock is 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.