Perrigo (NYSE:PRGO) Stock Rating Lowered by StockNews.com

Perrigo (NYSE:PRGO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group restated a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Up 1.4 %

Perrigo stock opened at $26.01 on Wednesday. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $26.79 and a 200-day moving average of $26.89. The stock has a market capitalization of $3.55 billion, a PE ratio of -22.23 and a beta of 0.52.

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 firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities research analysts anticipate that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRGO. Voisard Asset Management Group Inc. boosted its position in Perrigo by 9.7% during the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares during the period. Creative Planning raised its holdings in Perrigo by 3.7% in the 3rd quarter. Creative Planning now owns 18,477 shares of the company’s stock valued at $485,000 after acquiring an additional 661 shares during the period. Arizona State Retirement System lifted its position in Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after acquiring an additional 699 shares during the last quarter. KBC Group NV boosted its holdings in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after acquiring an additional 905 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Perrigo by 3.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock valued at $747,000 after purchasing an additional 923 shares during the last quarter. 95.91% of the stock is 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.