Perrigo (NYSE:PRGO) Lowered to Hold at StockNews.com

StockNews.com cut shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a report published on Wednesday.

PRGO has been the topic of several other reports. Canaccord Genuity Group reissued a buy rating and set a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th. Piper Sandler raised their target price on Perrigo from $35.00 to $39.00 and gave the stock an overweight rating in a report on Monday, April 8th. Finally, 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 research note on Wednesday, February 28th.

Perrigo Price Performance

PRGO stock traded down $0.10 during trading on Wednesday, hitting $31.01. 1,093,687 shares of the stock traded hands, compared to its average volume of 1,794,726. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -311.10 and a beta of 0.63. Perrigo has a one year low of $25.77 and a one year high of $40.28. The company has a 50 day simple moving average of $30.77 and a 200 day simple moving average of $30.93.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Saturday, May 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. Perrigo’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. Equities analysts expect that Perrigo will post 2.55 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, May 31st. Perrigo’s dividend payout ratio (DPR) is presently -1,100.00%.

Insider Buying and Selling

In related news, EVP Alison Ives bought 2,490 shares of Perrigo stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the purchase, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Robert Willis bought 6,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the purchase, the executive vice president now owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alison Ives purchased 2,490 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares in the company, valued at $439,485.72. The disclosure for this purchase can be found here. In the last three months, insiders acquired 17,990 shares of company stock valued at $475,227. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Perrigo in the 4th quarter valued at about $30,000. Parkside Financial Bank & Trust increased its position in shares of Perrigo by 1,694.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares during the last quarter. Hexagon Capital Partners LLC bought a new stake in shares of Perrigo during the 4th quarter worth approximately $37,000. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo in the 1st quarter valued at approximately $48,000. Finally, Blue Trust Inc. increased its holdings in Perrigo by 34.5% during the fourth 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 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.