Perrigo (NYSE:PRGO) Shares Gap Down – Should You Sell?

Perrigo Company plc (NYSE:PRGO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.61, but opened at $11.00. Perrigo shares last traded at $11.3270, with a volume of 758,489 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRGO. Zacks Research raised shares of Perrigo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Canaccord Genuity Group reduced their price objective on shares of Perrigo from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Perrigo in a research note on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of Perrigo from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.33.

Perrigo Stock Down 4.3%

The company’s fifty day simple moving average is $11.12 and its 200-day simple moving average is $12.49. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.72 and a quick ratio of 1.59. The firm has a market capitalization of $1.54 billion, a PE ratio of -0.85, a price-to-earnings-growth ratio of 1.28 and a beta of 0.51.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. Perrigo had a negative net margin of 43.50% and a positive return on equity of 9.96%. The business had revenue of $841.80 million for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, analysts forecast that Perrigo Company plc will post 2.12 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Friday, May 29th. Perrigo’s payout ratio is currently -8.85%.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Perrigo by 25.5% during the first quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock valued at $16,847,000 after buying an additional 318,248 shares during the last quarter. RBF Capital LLC purchased a new stake in shares of Perrigo during the first quarter valued at $1,933,000. Parvin Asset Management LLC grew its holdings in shares of Perrigo by 51.4% during the first quarter. Parvin Asset Management LLC now owns 19,875 shares of the company’s stock valued at $213,000 after buying an additional 6,750 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Perrigo by 25.4% during the first quarter. California State Teachers Retirement System now owns 160,005 shares of the company’s stock valued at $1,718,000 after buying an additional 32,390 shares during the last quarter. Finally, Readystate Asset Management LP grew its holdings in shares of Perrigo by 50.4% during the first quarter. Readystate Asset Management LP now owns 274,684 shares of the company’s stock valued at $2,950,000 after buying an additional 92,058 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.