Perrigo (NYSE:PRGO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Perrigo (NYSE:PRGO) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other brokerages also recently weighed in on PRGO. Jefferies Financial Group reissued 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. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, Piper Sandler dropped their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Perrigo currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Up 1.3 %

Shares of NYSE:PRGO opened at $25.30 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $26.82 and a two-hundred day simple moving average of $28.00. Perrigo has a 12-month low of $23.89 and a 12-month high of $34.60. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -27.50 and a beta of 0.48.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. Perrigo’s quarterly revenue was down 10.7% compared to the same quarter last year. On average, research analysts anticipate that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were paid a $0.276 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.36%. Perrigo’s dividend payout ratio (DPR) is currently -119.57%.

Insider Activity at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,254 shares of company stock worth $1,411,969. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRGO. Central Pacific Bank Trust Division purchased a new stake in Perrigo in the 1st quarter worth approximately $48,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Perrigo in the second quarter worth $72,000. TFC Financial Management Inc. increased its stake in shares of Perrigo by 39.7% in the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after purchasing an additional 700 shares in the last quarter. Voisard Asset Management Group Inc. raised its position in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. Finally, CWM LLC lifted its stake in shares of Perrigo by 877.0% during the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after buying an additional 7,358 shares in the last quarter. Institutional investors 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.