Perrigo (NYSE:PRGO) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other analysts also recently weighed in on PRGO. Jefferies Financial Group lowered their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Canaccord Genuity Group reduced their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 target price (down from $32.00) on shares of Perrigo in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.50.

Perrigo Stock Down 3.6%

NYSE PRGO traded down $0.53 on Friday, reaching $14.40. The company had a trading volume of 4,899,113 shares, compared to its average volume of 1,658,164. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. Perrigo has a 1 year low of $14.17 and a 1 year high of $30.93. The firm has a 50-day moving average of $21.34 and a 200-day moving average of $24.41. The firm has a market capitalization of $1.98 billion, a PE ratio of -24.82 and a beta of 0.42.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, equities research analysts anticipate that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be given a $0.29 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.16 annualized dividend and a dividend yield of 8.1%. Perrigo’s dividend payout ratio (DPR) is presently -305.26%.

Insider Transactions at Perrigo

In other Perrigo news, EVP Robert Willis bought 1,488 shares of the stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the purchase, the executive vice president directly owned 41,939 shares in the company, valued at approximately $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abigail Lennox purchased 1,255 shares of Perrigo stock in a transaction dated Monday, September 8th. The stock was acquired at an average price of $22.41 per share, for a total transaction of $28,124.55. Following the completion of the transaction, the executive vice president owned 1,255 shares in the company, valued at approximately $28,124.55. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 10,118 shares of company stock valued at $232,699 over the last 90 days. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

A number of institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after purchasing an additional 742 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 424 shares during the period. Hantz Financial Services Inc. grew its stake in Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after buying an additional 620 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Perrigo during the 1st quarter worth $42,000. Institutional investors own 95.91% of the company’s stock.

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.