Perrigo (NYSE:PRGO) PT Lowered to $36.00 at Piper Sandler

Perrigo (NYSE:PRGO) had its price target lowered by Piper Sandler from $39.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their price target on Perrigo from $48.00 to $41.00 and set an overweight rating for the company in a report on Wednesday, February 28th. StockNews.com raised shares of Perrigo from a hold rating to a buy rating in a report on Wednesday, May 29th. Finally, Canaccord Genuity Group restated a buy rating and issued a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th.

Perrigo Trading Down 2.0 %

PRGO opened at $26.85 on Thursday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -383.57 and a beta of 0.56. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. Perrigo has a twelve month low of $25.77 and a twelve month high of $40.28. The company has a 50-day simple moving average of $29.79 and a 200 day simple moving average of $30.80.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. Analysts predict that Perrigo will post 2.58 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, May 31st. Perrigo’s payout ratio is -1,571.43%.

Insiders Place Their Bets

In related news, EVP Svend Andersen purchased 1,000 shares of Perrigo stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of Perrigo in the 4th quarter worth about $30,000. Parkside Financial Bank & Trust increased its holdings in Perrigo by 1,694.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares in the last quarter. Hexagon Capital Partners LLC acquired a new position in Perrigo in the fourth quarter valued at approximately $37,000. Central Pacific Bank Trust Division bought a new position in shares of Perrigo during the 1st quarter worth approximately $48,000. Finally, Blue Trust Inc. grew its position in shares of Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after buying an additional 399 shares during the period. 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.