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

Perrigo (NYSE:PRGO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

PRGO has been the subject of several other research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Perrigo Stock Down 2.6 %

Perrigo stock opened at $24.41 on Friday. Perrigo has a 52-week low of $23.89 and a 52-week high of $33.96. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a 50 day moving average price of $26.74 and a two-hundred day moving average price of $26.81. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -20.86 and a beta of 0.53.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.64 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Equities analysts predict that Perrigo will post 2.56 EPS for the current year.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in shares of Perrigo during the 4th quarter valued at $45,000. GAMMA Investing LLC grew its position in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division raised its holdings in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC purchased a new position in Perrigo in the third quarter valued at approximately $56,000. Finally, KBC Group NV increased its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares during the last quarter. 95.91% of the stock is currently owned by hedge funds and other 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.