Perrigo Company plc (NYSE:PRGO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Perrigo Company plc (NYSE:PRGO) have received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.00.

Several analysts have recently commented on PRGO shares. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new position in Perrigo during the 4th quarter worth approximately $45,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Perrigo during the 3rd quarter worth about $56,000. Finally, KBC Group NV increased its holdings in shares of Perrigo by 25.1% in 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 during the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Trading Down 1.4 %

PRGO opened at $24.61 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company’s 50 day simple moving average is $25.65 and its two-hundred day simple moving average is $26.50. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -21.03 and a beta of 0.54. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.46.

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

About Perrigo

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.