Canaccord Genuity Group Forecasts Strong Price Appreciation for Perrigo (NYSE:PRGO) Stock

Perrigo (NYSE:PRGO) had its price objective lifted by investment analysts at Canaccord Genuity Group from $17.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective suggests a potential upside of 20.41% from the company’s current price.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Perrigo from a “hold” rating to a “strong sell” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $18.50.

Perrigo Stock Performance

NYSE PRGO opened at $15.78 on Friday. 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 stock’s 50-day simple moving average is $14.83 and its two-hundred day simple moving average is $12.48. Perrigo has a twelve month low of $9.23 and a twelve month high of $21.01. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.26, a PEG ratio of 1.82 and a beta of 0.71.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Research analysts forecast that Perrigo will post 2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Perrigo

A number of large investors have recently bought and sold shares of the stock. Covestor Ltd increased its stake in shares of Perrigo by 13.1% in the third quarter. Covestor Ltd now owns 7,748 shares of the company’s stock worth $114,000 after buying an additional 897 shares during the period. Salomon & Ludwin LLC purchased a new stake in Perrigo during the 3rd quarter valued at $25,000. Profund Advisors LLC boosted its position in Perrigo by 288.3% during the 3rd quarter. Profund Advisors LLC now owns 113,418 shares of the company’s stock valued at $1,674,000 after buying an additional 84,207 shares during the period. ProShare Advisors LLC boosted its position in Perrigo by 51.7% during the 3rd quarter. ProShare Advisors LLC now owns 959,053 shares of the company’s stock valued at $14,156,000 after buying an additional 326,797 shares during the period. Finally, Vise Technologies Inc. grew its holdings in Perrigo by 77.3% in the 3rd quarter. Vise Technologies Inc. now owns 22,352 shares of the company’s stock worth $330,000 after acquiring an additional 9,747 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Company Profile

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.