Perrigo (NYSE:PRGO) Lowered to "Hold" Rating by StockNews.com

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research firms have also weighed in on PRGO. Canaccord Genuity Group reiterated a "buy" rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Piper Sandler cut Perrigo from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Perrigo currently has an average rating of "Hold" and a consensus price target of $35.00.

Perrigo Trading Down 2.6 %

NYSE PRGO traded down $0.64 on Friday, reaching $24.41. The company had a trading volume of 1,402,060 shares, compared to its average volume of 1,634,777. Perrigo has a 52 week low of $23.89 and a 52 week high of $33.96. The stock's 50 day moving average is $26.74 and its 200-day moving average is $26.80. 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 stock has a market cap of $3.33 billion, a price-to-earnings ratio of -20.86 and a beta of 0.53.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting 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 business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm earned $0.64 EPS. Perrigo's quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business's 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 transaction, the director now owns 5,409 shares of the company's stock, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perrigo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Perrigo by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company's stock valued at $183,935,000 after purchasing an additional 249,640 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of Perrigo by 11.2% during the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock worth $99,701,000 after buying an additional 391,646 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 in the last quarter. Copeland Capital Management LLC lifted its stake in shares of Perrigo by 23.1% in the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock valued at $65,117,000 after acquiring an additional 465,161 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its holdings in shares of Perrigo by 5.2% during 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 acquiring an additional 117,230 shares in 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.