Perrigo (NYSE:PRGO) Downgraded by StockNews.com to Hold

Perrigo (NYSE:PRGO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and issued 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 reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Perrigo has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Performance

NYSE:PRGO opened at $25.95 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $26.82 and a 200-day moving average of $26.83. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -22.18 and a beta of 0.52.

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

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo 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 sale, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Several hedge funds and other institutional investors have recently modified their holdings of PRGO. Versant Capital Management Inc bought a new position in Perrigo during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Perrigo during the 3rd quarter valued at $56,000. Finally, KBC Group NV lifted its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares during 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.