Analysts Set Perrigo Company plc (NYSE:PRGO) PT at $35.00

Perrigo Company plc (NYSE:PRGO) has earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $35.00.

Several research analysts have recently commented on the stock. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th.

Insider Activity at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s 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 completion of the transaction, the director now directly owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently added to or reduced their stakes in PRGO. Franklin Resources Inc. purchased a new position in Perrigo in the 3rd quarter worth $3,717,000. Barclays PLC boosted its holdings in Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after acquiring an additional 37,268 shares during the period. Foundry Partners LLC bought a new position in Perrigo during the 3rd quarter worth approximately $7,111,000. AQR Capital Management LLC increased its stake in Perrigo by 675.5% in the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after purchasing an additional 845,470 shares during the period. Finally, Citigroup Inc. lifted its position in Perrigo by 94.1% in the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after purchasing an additional 73,457 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Up 0.0 %

NYSE:PRGO opened at $23.86 on Tuesday. The stock has a 50-day moving average price of $26.43 and a two-hundred day moving average price of $26.72. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -20.40 and a beta of 0.53. 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 1 year low of $23.14 and a 1 year high of $33.96.

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

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were paid a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.63%. Perrigo’s payout ratio is currently -94.02%.

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.