JPMorgan Chase & Co. Cuts Perrigo (NYSE:PRGO) Price Target to $18.00

Perrigo (NYSE:PRGO) had its price target lowered by JPMorgan Chase & Co. from $20.00 to $18.00 in a research report report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on PRGO. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group lowered their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Canaccord Genuity Group cut their target price on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $22.00.

Perrigo Stock Up 2.3%

Perrigo stock opened at $13.32 on Monday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -35.06 and a beta of 0.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.51 and a quick ratio of 1.44. The business has a fifty day moving average price of $16.50 and a 200-day moving average price of $21.90. Perrigo has a 1-year low of $12.17 and a 1-year high of $30.93.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. Perrigo had a positive return on equity of 9.16% and a negative net margin of 1.21%.The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities research analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.16 annualized dividend and a yield of 8.7%. Perrigo’s dividend payout ratio is presently -305.26%.

Insiders Place Their Bets

In other Perrigo news, Director Geoffrey M. Parker purchased 7,500 shares of Perrigo stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $14.18 per share, with a total value of $106,350.00. Following the completion of the transaction, the director owned 17,375 shares of the company’s stock, valued at $246,377.50. This trade represents a 75.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perrigo

A number of hedge funds have recently added to or reduced their stakes in PRGO. Danske Bank A S acquired a new position in Perrigo during the 3rd quarter worth $53,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Perrigo in the 3rd quarter valued at $286,000. Lombard Odier Asset Management USA Corp grew its holdings in shares of Perrigo by 25.7% during the third quarter. Lombard Odier Asset Management USA Corp now owns 98,106 shares of the company’s stock worth $2,185,000 after purchasing an additional 20,040 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Perrigo in the 3rd quarter valued at $1,782,000. Finally, Crawford Investment Counsel Inc. boosted its stake in shares of Perrigo by 3.2% during the third quarter. Crawford Investment Counsel Inc. now owns 1,274,467 shares of the company’s stock worth $28,382,000 after buying an additional 39,236 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.