Perrigo (NYSE:PRGO) Cut to “Hold” at StockNews.com

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

Several other research firms have also weighed in on PRGO. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 target price (down previously 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 objective on shares of Perrigo in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Perrigo has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Price Performance

NYSE:PRGO traded down $0.02 during mid-day trading on Wednesday, hitting $25.64. The company’s stock had a trading volume of 499,124 shares, compared to its average volume of 1,594,669. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -21.91 and a beta of 0.52. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The stock has a fifty day moving average of $26.77 and a 200-day moving average of $26.89.

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 business 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%. Perrigo’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, equities analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Transactions at Perrigo

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

Institutional Investors Weigh In On Perrigo

Several institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in Perrigo in the third quarter valued at approximately $56,000. KBC Group NV raised its position in shares of Perrigo by 25.1% during the 3rd 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 last quarter. Voisard Asset Management Group Inc. lifted its stake in shares of Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after purchasing an additional 450 shares during the period. Atria Investments Inc bought a new position in shares of Perrigo in the 3rd quarter worth $208,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Perrigo during the second quarter worth $213,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

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.