Perrigo (NYSE:PRGO) Stock Rating Upgraded by StockNews.com

Perrigo (NYSE:PRGO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other research firms also recently commented on PRGO. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. Finally, Piper Sandler cut their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Perrigo presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Up 2.4 %

Shares of NYSE PRGO traded up $0.59 during mid-day trading on Thursday, hitting $24.98. The company’s stock had a trading volume of 1,977,810 shares, compared to its average volume of 1,606,717. Perrigo has a one year low of $23.89 and a one year high of $34.60. The company’s fifty day simple moving average is $26.85 and its 200-day simple moving average is $28.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -356.86 and a beta of 0.48.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. On average, sell-side analysts anticipate that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Perrigo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo in the first quarter valued at about $48,000. Beach Investment Counsel Inc. PA bought a new position in Perrigo in the second quarter valued at approximately $72,000. TFC Financial Management Inc. increased its position in shares of Perrigo by 39.7% during the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after purchasing an additional 700 shares during the last quarter. Voisard Asset Management Group Inc. boosted its holdings in shares of Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after buying an additional 3,900 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Perrigo by 877.0% in the second 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. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.