Perrigo (NYSE:PRGO) Rating Lowered 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 report issued on Tuesday.

A number of other research firms also recently commented on PRGO. Piper Sandler dropped their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Friday, April 12th.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $27.93 on Tuesday. The business’s 50 day simple moving average is $27.15 and its 200-day simple moving average is $29.91. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -399.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. Perrigo has a 12 month low of $24.82 and a 12 month high of $40.28.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.45 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Perrigo will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the purchase, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perrigo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners acquired a new position in Perrigo in the 4th quarter worth about $74,255,000. Norges Bank acquired a new position in Perrigo in the 4th quarter worth about $41,982,000. National Bank of Canada FI acquired a new position in Perrigo in the 1st quarter worth about $19,040,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Perrigo by 3,796.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock worth $18,736,000 after acquiring an additional 567,274 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Perrigo by 463.3% during the 4th quarter. Corient Private Wealth LLC now owns 663,104 shares of the company’s stock worth $21,339,000 after acquiring an additional 545,395 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

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.