Perrigo (NYSE:PRGO) Rating Lowered to “Hold” at StockNews.com

Perrigo (NYSE:PRGO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down previously 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 target price on shares of Perrigo in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Down 0.2 %

Shares of PRGO stock opened at $25.95 on Friday. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $26.82 and a 200-day simple moving average of $26.83. The stock has a market cap of $3.54 billion, a P/E ratio of -22.18 and a beta of 0.52.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $0.64 EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, analysts forecast that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perrigo

A number of hedge funds have recently added to or reduced their stakes in PRGO. Versant Capital Management Inc bought a new position in Perrigo during the 4th quarter worth $45,000. GAMMA Investing LLC boosted its position in shares of Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after buying an additional 929 shares during the period. Central Pacific Bank Trust Division grew its holdings in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Perrigo in the 3rd quarter valued at approximately $56,000. Finally, KBC Group NV raised its stake in Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares in the last quarter. Institutional investors and hedge funds 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.