Perrigo (NYSE:PRGO) PT Lowered to $35.00 at Piper Sandler

Perrigo (NYSE:PRGO) had its price target reduced by Piper Sandler from $36.00 to $35.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on PRGO. StockNews.com upgraded Perrigo from a hold rating to a buy rating in a research note on Wednesday, May 29th. Canaccord Genuity Group reiterated a buy rating and set a $42.00 price objective on shares of Perrigo in a research report on Friday, April 12th.

Perrigo Trading Down 1.3 %

NYSE PRGO opened at $27.48 on Thursday. The stock’s 50 day moving average is $27.69 and its 200 day moving average is $30.20. The firm has a market capitalization of $3.75 billion, a PE ratio of -392.57 and a beta of 0.51. Perrigo has a twelve month low of $24.82 and a twelve month high of $40.28. 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 (NYSE:PRGO) last announced its quarterly earnings data on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. Research analysts forecast that Perrigo will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Friday, May 31st. Perrigo’s dividend payout ratio (DPR) is -1,571.43%.

Insider Transactions at Perrigo

In other news, EVP Svend Andersen bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. O Keefe Stevens Advisory Inc. purchased a new stake in Perrigo during the second quarter valued at approximately $3,427,000. CWM LLC raised its holdings in shares of Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after buying an additional 7,358 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Perrigo by 292.5% in the second quarter. Harbor Capital Advisors Inc. now owns 20,749 shares of the company’s stock worth $533,000 after buying an additional 15,463 shares during the period. Beach Investment Counsel Inc. PA bought a new position in Perrigo in the second quarter worth approximately $72,000. Finally, Tidal Investments LLC grew its stake in Perrigo by 423.8% in the first quarter. Tidal Investments LLC now owns 77,254 shares of the company’s stock worth $2,478,000 after purchasing an additional 62,504 shares in 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.