Perrigo (NYSE:PRGO) Rating Lowered to Neutral at Piper Sandler

by · The Markets Daily

Perrigo (NYSE:PRGO – Get Free Report) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $27.00 price target on the stock, down from their previous price target of $34.00. Piper Sandler’s price objective suggests a potential upside of 8.04% from the company’s current price.

Several other analysts have also recently commented on PRGO. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.00.

Check Out Our Latest Report on PRGO

Perrigo Stock Down 1.3 %

Shares of PRGO opened at $24.99 on Monday. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -21.36 and a beta of 0.53. Perrigo has a 52 week low of $23.89 and a 52 week high of $34.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The business’s fifty day moving average price is $26.79 and its two-hundred day moving average price is $26.83.

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

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRGO. Dimensional Fund Advisors LP lifted its position in Perrigo by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after acquiring an additional 249,640 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after purchasing an additional 391,646 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock worth $70,761,000 after buying an additional 1,878,145 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after buying an additional 465,161 shares in the last quarter. Finally, Sound Shore Management Inc. CT raised its position in Perrigo by 5.2% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company’s stock valued at $61,402,000 after buying an additional 117,230 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

About Perrigo

(Get Free Report)

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.

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