Perrigo Company plc (NYSE:PRGO) Receives Average Rating of "Hold" from Analysts

Perrigo Company plc (NYSE:PRGO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of brokerages recently issued reports on PRGO. 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 report on Monday, September 23rd. Argus cut Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday. Canaccord Genuity Group reiterated a "buy" rating and set a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Piper Sandler cut shares of Perrigo from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th.

Perrigo Stock Performance

PRGO traded down $0.77 during trading on Tuesday, hitting $23.57. The stock had a trading volume of 1,794,229 shares, compared to its average volume of 1,585,241. 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 firm has a market cap of $3.22 billion, a price-to-earnings ratio of -20.15 and a beta of 0.53. The company has a 50 day moving average price of $26.71 and a 200-day moving average price of $26.80. Perrigo has a one year low of $23.14 and a one year high of $33.96.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $0.64 earnings per share. Perrigo's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a dividend of $0.276 per share. The ex-dividend date was Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.68%. Perrigo's dividend payout ratio (DPR) is presently -94.02%.

Insider Activity at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perrigo

Large investors have recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC boosted its holdings in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after acquiring an additional 500 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Perrigo during the third quarter worth $56,000. Finally, KBC Group NV boosted 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 purchasing an additional 905 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.