Perrigo (NYSE:PRGO) Downgraded by StockNews.com to Hold

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

Several other equities analysts have also recently weighed in on PRGO. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $27.00 in a report on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Perrigo Stock Performance

Shares of NYSE PRGO traded up $0.67 during midday trading on Wednesday, hitting $24.81. 1,480,463 shares of the stock traded hands, compared to its average volume of 1,278,964. The firm has a 50-day moving average of $25.06 and a two-hundred day moving average of $26.29. The firm has a market capitalization of $3.38 billion, a P/E ratio of -21.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a one year low of $23.14 and a one year high of $33.46.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’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 sale, the director now directly owns 5,409 shares of the company’s stock, valued at $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC raised its holdings in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after acquiring an additional 1,340 shares during the period. Versant Capital Management Inc purchased a new position in shares of Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC grew its position in shares of Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after purchasing an additional 929 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Perrigo during the third quarter valued at about $56,000. 95.91% of the stock is owned by 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.