Perrigo Company plc (NYSE:PRGO) Receives Consensus Rating of "Hold" from Brokerages

Perrigo Company plc (NYSE:PRGO - Get Free Report) has earned a consensus recommendation of "Hold" from the five research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.00.

A number of analysts have recently commented on the company. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Monday. Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $34.00 to $27.00 in a report on Monday, January 6th. Finally, Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th.

Insider Activity

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 sale, 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 at this hyperlink. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Perrigo

Several large investors have recently modified their holdings of the stock. Cooke & Bieler LP lifted its position in shares of Perrigo by 4.1% during the fourth quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company's stock worth $91,879,000 after purchasing an additional 139,650 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock worth $70,761,000 after acquiring an additional 1,878,145 shares during the last quarter. Sound Shore Management Inc. CT lifted its holdings in Perrigo by 0.4% in the fourth quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company's stock worth $68,614,000 after acquiring an additional 9,868 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock worth $65,117,000 after acquiring an additional 465,161 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Perrigo by 4.7% in the third quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company's stock worth $61,894,000 after acquiring an additional 106,356 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Perrigo Trading Down 1.2 %

Shares of PRGO stock traded down $0.31 on Friday, reaching $24.20. 1,038,312 shares of the stock were exchanged, compared to its average volume of 1,298,497. The stock has a market cap of $3.30 billion, a P/E ratio of -20.68 and a beta of 0.54. 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 firm has a 50 day moving average of $25.48 and a two-hundred day moving average of $26.43. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.46.

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.