Perrigo (NYSE:PRGO) Stock Moved Down to “Buy” by Wall Street Zen

Wall Street Zen cut shares of Perrigo (NYSE:PRGO) from a strong-buy rating to a buy rating in a report published on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.33.

Perrigo Stock Performance

Shares of PRGO stock opened at $15.43 on Friday. The company’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $11.52. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31. The firm has a market cap of $2.14 billion, a PE ratio of -1.23, a P/E/G ratio of 1.77 and a beta of 0.59. Perrigo has a 12 month low of $9.23 and a 12 month high of $22.65.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned ($0.06) earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Equities research analysts expect that Perrigo will post 2.18 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, August 28th. Perrigo’s dividend payout ratio (DPR) is -9.27%.

Institutional Investors Weigh In On Perrigo

Institutional investors and hedge funds have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC increased its position in Perrigo by 28.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 4,658,601 shares of the company’s stock worth $64,848,000 after buying an additional 1,029,770 shares during the last quarter. Norges Bank acquired a new stake in shares of Perrigo in the fourth quarter valued at approximately $42,607,000. Bank of America Corp DE boosted its stake in shares of Perrigo by 25.5% during the 1st quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock worth $16,847,000 after acquiring an additional 318,248 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Perrigo by 34.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,525,384 shares of the company’s stock worth $16,779,000 after acquiring an additional 387,027 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Perrigo by 125.5% during the 1st quarter. First Trust Advisors LP now owns 1,496,244 shares of the company’s stock worth $16,070,000 after acquiring an additional 832,686 shares during the last quarter. 95.91% of the stock is owned by institutional investors.

Perrigo Company Profile

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter (OTC) products and other nonprescription health and wellness products. Its portfolio spans consumer health categories including pain relief, allergy and cold remedies, digestive health, skin care, oral care, vitamins and supplements, and women’s health.

The company sells products under both its own brands and retailer-owned store brands through pharmacies, supermarkets, mass merchants, e-commerce channels and other outlets.