Perrigo’s (PRGO) Sell (D) Rating Reaffirmed at Weiss Ratings

Perrigo (NYSE:PRGO)‘s stock had its “sell (d)” rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group lowered their price objective on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.00.

Perrigo Stock Performance

NYSE PRGO opened at $21.65 on Wednesday. The company has a market cap of $2.98 billion, a P/E ratio of -37.33 and a beta of 0.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock has a 50-day moving average of $22.90 and a two-hundred day moving average of $25.29. Perrigo has a 1-year low of $20.51 and a 1-year high of $30.93.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, analysts anticipate that Perrigo will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Perrigo news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the purchase, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Geoffrey M. Parker bought 4,375 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $22.97 per share, with a total value of $100,493.75. Following the purchase, the director owned 33,287 shares of the company’s stock, valued at $764,602.39. The trade was a 15.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 10,118 shares of company stock worth $232,699 in the last three months. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perrigo

Institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. lifted its stake in Perrigo by 0.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock worth $53,128,000 after purchasing an additional 11,256 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Perrigo by 0.3% in the first quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock valued at $8,800,000 after buying an additional 914 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Perrigo in the first quarter valued at approximately $1,619,000. GAMMA Investing LLC lifted its stake in Perrigo by 91.9% in the first quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock valued at $103,000 after buying an additional 1,765 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Perrigo by 4.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company’s stock valued at $31,645,000 after buying an additional 50,009 shares during the last quarter. Hedge funds and other 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.