Perrigo (NYSE:PRGO) Upgraded by StockNews.com to “Buy”

Perrigo (NYSE:PRGO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other equities analysts have also commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Finally, Piper Sandler lowered their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Up 2.4 %

Shares of NYSE PRGO traded up $0.59 during mid-day trading on Thursday, reaching $24.98. The company had a trading volume of 1,977,810 shares, compared to its average volume of 1,606,717. The stock has a market capitalization of $3.41 billion, a PE ratio of -356.86 and a beta of 0.48. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The stock’s 50 day moving average is $26.85 and its 200-day moving average is $28.07.

Perrigo (NYSE:PRGO) last posted its earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at $604,258.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama raised its holdings in shares of Perrigo by 0.3% in the first quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock valued at $5,478,000 after buying an additional 447 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Perrigo by 4.3% in the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock worth $365,000 after acquiring an additional 465 shares during the last quarter. Creative Planning raised its stake in shares of Perrigo by 3.7% in the third quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after acquiring an additional 661 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after purchasing an additional 699 shares in the last quarter. Finally, TFC Financial Management Inc. grew its stake in shares of Perrigo by 39.7% during the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after purchasing an additional 700 shares during the last quarter. 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.