Perrigo (NYSE:PRGO - Get Free Report) was downgraded by investment analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued on Monday, MarketBeat.com reports. They currently have a $27.00 price target on the stock, down from their prior price target of $34.00. Piper Sandler's price objective would suggest a potential upside of 6.42% from the company's previous close.
PRGO has been the topic of a number of other reports. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Friday. Jefferies Financial Group restated a "hold" rating and issued a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.00.
View Our Latest Stock Report on PRGO
Perrigo Price Performance
PRGO stock traded down $0.58 during trading on Monday, hitting $25.37. The company had a trading volume of 3,137,717 shares, compared to its average volume of 1,981,839. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $26.82 and a two-hundred day moving average price of $26.84. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The company has a market cap of $3.46 billion, a P/E ratio of -21.68 and a beta of 0.53.
Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts expect that Perrigo will post 2.56 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated 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 sale, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This 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. Company insiders own 0.70% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in shares of Perrigo in the 3rd quarter valued at about $3,717,000. Barclays PLC grew its stake in Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after purchasing an additional 37,268 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Perrigo during the 3rd quarter worth approximately $7,111,000. AQR Capital Management LLC raised its stake in shares of Perrigo by 675.5% during the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock worth $24,926,000 after purchasing an additional 845,470 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Perrigo by 94.1% during the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company's stock worth $3,974,000 after purchasing an additional 73,457 shares in the last quarter. Institutional investors own 95.91% of the company's stock.
Perrigo Company Profile
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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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